FDBusiness.com

Strong First Half Performance by Cranswick

 Breaking News
  • Biggest Single Investment in Scotch Whisky Tourism Launched by Diageo Diageo has announced a £150 million investment over three years to transform its Scotch whisky visitor experiences in the biggest concerted programme ever seen in Scotland’s whisky tourism sector. The centre-piece of the investment will be a new state-of-the-art Johnnie Walker immersive visitor experience based in Edinburgh, bringing to life the story of the world’s [...]...
  • AGRANA to Invest €100 Million in New Wheat Starch Plant AGRANA, the fruit, starch and sugar company, has laid the foundation for a second wheat starch plant at its biorefinery at Pischelsdorf in Tullnerfeld, Austria. The €100 million investment will double AGRANA’s wheat starch production, expanding the total processing capacity at the Pischelsdorf site from the current 800,000 tonnes to more than 1 million tonnes [...]...
  • Kerry Taste & Nutrition Announces Joint Venture With Ojah & Korys Kerry, the Taste and Nutrition company, as part of its ambition to become a market leader in the supply of innovative plant proteins, has just announced a joint venture with Ojah BV, market leading pioneer in the production of plant-based meat alternatives based in the Netherlands. Kerry Taste and Nutrition will become the majority shareholder of [...]...
  • Omega Ingredients Launching Next Generation of ΩMegaSweet® As the Sugar Tax launches, Biochemist Steve Pearce and the team at Omega Ingredients are moving the front line of sugar replacement technology forward by launching a new formulation of their natural flavour system ΩMegaSweet® with ΩMegaSweet® Extra, an unprecedented new sugar replacement, blended with the addition of third generation Stevia. The key benefit of Omega’s [...]...
  • Qualvis’ New Selection Pack Increases Sales For Twisting Spirits Leading carton manufacturer, Qualvis Print & Packaging, has produced distinctive new gift packaging for Oxfordshire-based craft gin micro-distillery, Twisting Spirits. The selection gift pack, comprising 3 x 20cl bottles, was created to showcase three flavours – Douglas-Fir, Kaffir Lime & Lemongrass and Earl Grey.  In maintaining consistency with the distillers’ brand identity, the pack complements the [...]...

Strong First Half Performance by Cranswick

Strong First Half Performance by Cranswick
December 01
09:48 2015

Cranswick, the UK-based premium food producer, has reported a 10% increase in revenue to £529.1 million with adjusted group operating profit rising by 21.4% to £31.8 million for the six months ended 30 September 2015. Growth was supported by the contribution from Benson Park, which was acquired in the second half of the last financial year. Underlying revenue grew by 7%, with corresponding volumes ahead 10% as the benefit of lower input prices continues to be passed on to the group’s customers.

Cranswick’s core market is the United Kingdom where it provides a range of fresh pork, gourmet sausages, premium cooked poultry, charcuterie, traditional hand-cured, air-dried bacon, gourmet pastry products and sandwiches through retail, food service and manufacturing channels. It also has a rapidly developing export business serving the European, US, Australasian and West African markets. Cranswick operates from twelve well invested, highly efficient production facilities in the UK and employs over 8,000 people.

Adjusted group operating margin improved by 60 basis points to 6.0% of revenue. The improvement in group operating margin reflected the positive contribution from Benson Park, an improved performance from the Pastry business and a tight focus on cost control and operational efficiencies across the group.

Benson Park, based in Hull, is a leading producer of premium British cooked poultry products serving the fast growing ‘food to go’ sector. It has been fully and successfully integrated and recently commissioned a major capital investment programme significantly raising production capacity ahead of the peak Christmas trading period.

“The business performed strongly during the first half of the year and recorded revenue slightly ahead of the Board’s original expectations,” comments Martin Davey, chairman of Cranswick. “The company continues to work closely with its customers and to maintain its focus on service, quality and innovation to deliver attractive, competitively priced products in market conditions that are expected to remain competitive through the second half of the year. This approach, allied to a broadening product portfolio and an anticipated strong Christmas trading period, means the business remains very well placed to deliver further growth in this financial year.”

He adds: “With experienced management at all levels of the group, a strong range of products, a well invested asset base and 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

  • April 24, 2018Scandinavian Wine Expo
  • May 2, 2018Food Ingredients Istanbul
  • May 2, 2018The Food and Drink Trade Show
  • May 5, 2018Badische Weinmesse
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements