FDBusiness.com

Profits Rise on Flat Sales at Cranswick

 Breaking News
  • Irish Distillers to Invest €150 Million in Sites in Cork and Dublin Irish Distillers has announced investment of over €150 million in its sites in Cork and Dublin to meet demand for its products as the Irish whiskey renaissance continues apace. This is accelerated by the continued growth of the company’s flagship Jameson brand, which is now in double or triple-digit growth in more than 80 markets [...]...
  • Kepak Sweeps Up Seven Awards at Blas na hEireann Irish meat processor Kepak Group has picked up seven awards at this year’s prestigious Blas na hEireann Irish Food Awards, including a Gold award for its newly launched Centra Irish Angus Sirloin Steaks with Pink Peppercorn Butter. As one of Europe’s leading food innovators, Kepak was up against the top Irish producers in a range of distinct [...]...
  • Chr. Hansen Acquires Dairy Ingredient Supplier Through the acquisition of Austrian-based ingredient supplier Österreichische Laberzeugung Hundsbichler, Chr. Hansen will further expand its enzyme production and presence into the traditional segments of specialty cheeses. Hundsbichler products are widely recognized for high quality, and this acquisition will enable Chr. Hansen to offer cheesemakers a second-to-none product portfolio in the animal rennet space. The acquisition [...]...
  • Croxsons Pulls Out All the Stops For HMS Spirits Company Leading glass packaging company, Croxsons, recently came to the aid of start-up artisan gin distiller, the HMS Spirits Company, to fulfil an urgent packaging requirement. The distiller had found itself without a closure for its latest release, Mary Rose Gin, a small batch London Dry Gin produced to celebrate Henry VIII’s famous warship. The distiller, who [...]...
  • Mains Overtaking Bottled Water Coolers in West Europe 102,500 more water coolers were installed across West Europe in 2017, marking a 3.4% increase and taking the total to 3.1 million, according to a new report from the sector’s leading specialist consultancy Zenith Global. The number of mains water, point of use coolers rose by 6.2% to reach 46.9% of the total, up from [...]...

Profits Rise on Flat Sales at Cranswick

Profits Rise on Flat Sales at Cranswick
November 27
11:34 2014

Cranswick, the UK fresh pork and added value foods processor, has reported an 11% increase in adjusted group operating profit to £26.2 million in the first half of its financial year on revenue down by 0.4% to £481.5 million, reflecting growth across most product categories offset by lower sales of fresh pork. However, the fresh pork business lost earlier in the year is now being recovered.

Adjusted group operating margin at 5.4% of sales was higher than the 4.9% delivered in the same period last year and in line with that reported for the last financial year as a whole, reflecting Cranswick’s continued focus on operating efficiencies, product quality and innovation. Pig prices eased during the second quarter of the financial year and are now below the record highs seen at this time last year.

Adjusted profit before tax was 11.4% higher at £25.8 million.

Operating from thirteen well invested production facilities in the UK and employing almost 8,000 people, Cranswick supplies a range of fresh pork, gourmet sausages, premium cooked meats, charcuterie, traditional hand-cured, air-dried bacon, premium cooked chicken, gourmet pastry products and sandwiches to the retail, food service and manufacturing channels. It also has a rapidly developing export business serving the European, US and South East Asian markets.

Martin Davey, chairman of Cranswick, comments: “Subsequent to the period end, the Company acquired Benson Park Limited, a Hull based, leading producer of premium British cooked poultry which serves the fast growing food to go sector. This is an important acquisition for Cranswick in meeting the company’s stated strategic aim of broadening both the protein range and the customer base of the business.”

He adds: “With experienced management at all levels of the group, a strong and continually evolving range of products along with a robust financial position the Board remains confident in the continued long term success and development of the business.”

 

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 18, 2018Future Food-Tech London - Marketing Partnership
  • October 21, 2018Int'l Food Products Exhibition (Sial)
  • October 25, 2018Italian Espresso Coffee Show (TriestEspresso Expo)
  • October 25, 2018Finnish Food Fair
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements