FDBusiness.com

Cranswick Breaks Through £1 Billion Turnover Barrier

 Breaking News
  • Nestlé to Sell US Confectionery Business to Ferrero Nestlé has agreed to sell its US confectionery business to Ferrero, the third-largest company in the global chocolate confectionery market, for SFr2.8 billion ($2.8 billion) in cash. Nestlé’s 2016 US confectionery sales reached about SFr900 million. The transaction is expected to close around the end of the first quarter of 2018 following the completion of [...]...
  • Asahi Super Dry Re-launching in the UK Asahi UK, the UK subsidiary of Asahi Europe, is boosting its strong portfolio of beer brands by re-launching Asahi Super Dry in Britain in its authentic form. For the first time in Europe, full access to the exact Japanese brewing standards have been given to Asahi Europe and these innovations will bring the authentic taste [...]...
  • Natural Preservatives Extend Frying Oil Shelf Life Arjuna Naturals Extracts has launched its natural preservative formulation for combating oxidation, thermal degradation, hydrolytic rancidity and extending the frying cycle of vegetable oils. The new, all-natural preservative formulation contains a few simple ingredients and enables a clean label. It is GMO-free, oil-soluble and vegan. Initial response was so strong, Arjuna Natural Ltd. decided to [...]...
  • Alison Unveils New UK-made Bread Basket Dolly Alison Handling Services (AHS), Europe’s largest stockist of plastic containers and boxes, has introduced a new bread basket dolly designed for standard (762 x 508 x 216mm) 12-loaf stack nests. Capable of holding up to eight nests and available in grey or purple (to match Alison’s distinctive trays and baskets), the dolly has been designed [...]...
  • Irish Supermarkets Benefit From the Christmas Spirit The latest grocery market share figures from Kantar Worldpanel in Ireland, for the 12 weeks ending 31 December 2017, reveal that shoppers spent an extra €90 million on groceries over the festive period. David Berry, director at Kantar Worldpanel, comments: “Over the Christmas period the average household spent a record €1,532 on groceries – an increase of [...]...

Cranswick Breaks Through £1 Billion Turnover Barrier

Cranswick Breaks Through £1 Billion Turnover Barrier
May 20
14:57 2015

UK meat and convenience food processor Cranswick has increased adjusted operating profit by 10.1% to £58.7 million for the year ended 31 March 2015 on revenues up 1% to £1.003 billion. Strong revenue growth in several of the group’s product categories offset lower fresh pork sales and a decision to use all of Cranswick’s own pigs internally. Revenue growth was also supported by the contribution from Benson Park, a leading producer of premium British cooked poultry, which was acquired in October 2014.

Group operating margin at 5.8% of sales was 0.4% ahead of the previous financial year, reflecting an unstinting focus on improving operational efficiencies across the group and the benefit of lower pig prices in the current financial year compared to the previous year when prices had risen rapidly to record levels. Reported profit before taxation was £52.8 million.

Cranswick invested £21.1 million in its asset base during the year. This provided additional capacity, the upgrade of equipment, improved operational efficiencies and new product development resources. The principal areas of expenditure were the Delico cooked meats facility in Milton Keynes, and the Hull and Norfolk fresh pork sites. This brings total investment over the last five years to £137 million, resulting in the business having some of the most efficient and well-invested production facilities in the UK food manufacturing sector.

Cranswick Chairman Martin Davey, chairman of Cranswick, comments: “Following a year of significant commercial and strategic progress for Cranswick, the board looks forward to the opportunities that lie ahead. Cranswick benefits from some of the most efficient and well-invested production facilities in the UK food producer sector. This, in conjunction with our growing international export channels and strategy of diversifying our product portfolio, leaves the board confident that Cranswick is well positioned to continue its successful long term development.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • January 16, 2018Sival Plant Production Trade Show
  • January 17, 2018Anfas Food Product
  • January 17, 2018Dutch Organic Trade Fair
  • January 19, 2018International Green Week
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements