Pork’s popularity boosts Cranswick sales

SALES of pork and continental products have outperformed sausages and sandwiches helping food manufacturer Cranswick record a strong third quarter.

In a trading statement the Driffield-based firm said today that it continued to perform in line with management expectations despite ongoing challenges such as currency fluctuations and weakening economic activity.

Total sales for the company in the quarter to December 31 2008 were £164m – an increase of 7% compared to the same period last year.

In the food division, turnover increased by 6% compared with the same period last year.

It said there were notable increases in a number of categories, with sales of continental products 15% higher, pork sales up by 14% and sales of sausages and sandwiches ahead by 7% and 6% respectively.

Turnover in the pet division, which accounted for 7% of total sales in the quarter, rose 16% as the strong growth seen in the first half of the year continued.

Sales in the pet products business rose by 16% and the new Lisbon branch, which opened in October, helped aquatic sales move ahead by 17%.

Cranswick said that cash generation from operating activities remained strong but that it had put in place a new, three year, bank facility to provide “appropriate headroom” going forward.

“Cranswick is in a very strong position in each of its markets supported by production facilities in which there is ongoing investment in pursuit of improved efficiencies and which are amongst the best in the sector,” it added.

“The outlook for the year remains unchanged.”