FDBusiness.com

Cranswick Achieves Record Annual Sales

 Breaking News
  • Orkla Acquires Leading Czech Frozen Vegetable Producer Through its wholly-owned subsidiary Hamé, Nordic food group Orkla has purchased Agrimex, a leading frozen vegetable producer in the Czech Republic. Hamé is a leading branded food company in the Czech Republic and Slovakia, and holds strong positions in the liver paté, ready meals, ketchup, jam, baby food and tinned vegetable categories. Through the acquisition [...]...
  • Change of Leadership at Alpro Bernard Deryckere, current CEO of Alpro who has been leading the company for the last 16 years, is stepping down and handing over management responsibility to Sven Lamote. Sven Lamote will be tasked to prepare the Alpro plant-based business for its next stage of growth as the company’s new General Manager, building on Bernard Deryckere’s [...]...
  • Ornua Expands into South Korea With Launch of Kerrygold Ornua, Ireland’s largest exporter of Irish dairy products, has announced a major product expansion into the South Korean market with the launch of Kerrygold butter. Kerrygold will be sold through major Korean retailers. Kerrygold dairy products, made from the milk of grass-fed cows, will bring a unique new offering to South Korean consumers. Korean consumers place a high [...]...
  • East Meets West – Taura Inspires Global Flavour Combinations at FIE Real fruit and vegetable pieces are the perfect way to combine eastern and western flavours, Taura Natural Ingredients will demonstrate at Food Ingredients Europe. With consumers seeking new taste sensations, and eastern flavours particularly sought after, Taura – part of Frutarom – offers a range of ways to help manufacturers satisfy adventurous palates. The company’s unique [...]...
  • Pots Showcase Dairy Delights Regional French dairy producer Duo Lozère has selected RPC Bebo Bouxwiller to supply the packaging for the company’s high quality organic yoghurts and fromage blanc. The stylish 125cc thermoformed polypropylene pots are lightweight and easy to handle, combining consumer convenience and ease of use with effective product protection and presentation. Newly-designed graphics, offset printed in a [...]...

Cranswick Achieves Record Annual Sales

Cranswick Achieves Record Annual Sales
May 26
11:58 2017

UK food group Cranswick has reported a 22.5% jump in revenue from continuing operations to £1.245 billion for the year ended 31 March 2017. Growth was driven by a strong performance from each of the group’s categories – Fresh Pork, Convenience, Gourmet Products and Poultry – and reflected positive contributions from the Crown Chicken and Ballymena businesses acquired during the year. Like-for-like revenue was 12.7% higher, with corresponding volumes up 15.4%. New contract wins, strong export sales and a greater number of pigs being processed through Cranswick’s three primary processing facilities underpinned this strong volume growth.

Adjusted group operating profit increased by 17.0% to £76.1 million. Operating margin at 6.1% was 29 basis points lower with the delay, as anticipated, in recovering rising input costs through the second half of the year being partly mitigated by a positive contribution from the rapidly growing poultry and export businesses and a strong operational performance across each of Cranswich’s businesses.

Adam Couch, chief executive of Cranswick.

Adam Couch, chief executive of Cranswick, comments: “We have reported another year of strong growth in financial results, during which we have also made further strategic and commercial progress.”

Strategic initiatives included the acquisition of CCL Holdings and its subsidiary Crown Chicken at the beginning of the financial year which expanded the company’s presence in poultry, the UK’s largest meat category. This was followed later in the year by the acquisition of Dunbia Ballymena, which further strengthened Cranswick’s UK pork processing capability. Cranswick’s Sandwich business, a non-core activity, was sold in July 2016.

Acquisitions are an important element of Cranswick’s development strategy to date, and have been complementary to the investments made to drive organic growth. The recent commencement of the construction of a new site for the Continental Products business, along with other significant investments in the asset base over the past year amounting to £47 million, continue this ongoing focus on organic growth.

Adam Couch continues: “We enter the new financial year in excellent shape having added to our asset base, enhanced market positions and successfully integrated our two strategically important acquisitions during the last twelve months. We have further strengthened the solid foundations of our business and we believe we are well placed to continue to deliver sustainable organic growth going forward.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • November 28, 2017Fi Europe
  • December 4, 2017Plastics and Paper in Contact with Foodstuffs 2017
  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements