UK pork producer in good growth despite challenges

 Breaking News
  • Coca-Cola HBC to Acquire Italian Water and Sparkling Beverages Company in €88 Million Deal Coca‑Cola HBC has agreed to acquire Acque Minerali, a privately-held natural mineral water and adult sparkling beverages business based in Italy. The acquisition is being made in conjunction with The Coca-Cola Company, in-line with previous similar acquisitions. The total enterprise value payable by Coca‑Cola HBC and The Coca‑Cola Company, subject to customary closing adjustments, amounts [...]...
  • Britvic Signs Up to Science Based Targets Initiative Britvic has pledged to pursue bolder greenhouse gas (GHG) emission reduction targets by signing up to the Science Based Targets initiative. Britvic joins around 600 leading companies from around the world in formally committing to independently verified science-based GHG emission reduction targets. Britvic’s A Healthier Everyday sustainability strategy recognises climate change as one of the biggest threats facing [...]...
  • Marks & Spencer Partners Infarm to Bring Urban Farming to London Stores M&S Food is partnering with infarm – one of the world’s most advanced urban farming platforms – to deliver a range of fresh produce grown and harvested in a selection of the retailer’s London stores. Customers will now find a range of fresh herbs – including Italian, Greek and Bordeaux Basils, Mint, Curly Parsley and Mountain [...]...
  • Coca-Cola European Partners to Remove 4,000 Tonnes of Single-use Plastic by Swapping Shrink Wrap For Cardboard in Western Europe Coca-Cola European Partners, will be replacing plastic shrink wrap with cardboard for its can multipacks across Western Europe, removing approximately 4,000 tonnes of single-use plastic per year across the region. This is the latest move in Coca-Cola’s commitment to tackle packaging waste and remove all unnecessary single-use plastic from its secondary packaging. Plastic shrink wrapping is used [...]...
  • EU Leading in Global Agri-food Trade The EU has been confirmed for yet another year in its position as the largest global exporter of agri-food products, with sales reaching €138 billion in 2018. Agriculture products represent a solid share of 7% of the value of EU total goods exported in 2018, ranking fourth after machinery, other manufactured goods and chemicals. Agriculture and [...]...

UK pork producer in good growth despite challenges

May 17
14:00 2013

UK-based pork producer Cranswick is showing good growth in a challenging grocery market, with profits before tax (PBT) of £49.3m, according to assets management company Investec.

A report issued by Investec revealed Cranswick had continued to invest in assets, drive efficiencies and produce capacity for future growth. As a result, said Investec, Cranswick started the full year with a good “underlying revenue momentum”, which could stand it in good stead for more progress throughout the year.

“Pork remains an attractively priced protein and this has helped boost consumption by 2% per capita, but Cranswick has gained further share to post organic revenue growth of 7%,” the report said.

Cranswick’s interest costs fell this year and reflected its reduced net debt, which also fell by £2m to £20m. The group also made an important purchase of East Anglian Pigs (EAP) a fortnight ago, which was predicted to cost £13m including cash and debt. Investec said this purchase strengthened Cranswick’s supply chain, making it more secure.

Investec said: “The outlook for full-year 2014 looks solid. With new business added in Q4, sales momentum is good and we expect revenue to increase to around £940m from £875m. We are prudently forecasting margins are held at 5.7%. In theory, the acquisition of EAP should be margin-accretive, but pig prices are rising again – currently sitting just below 163p/kg, a new all-time high.”

As a result, it increased its forecast for 2014 by £400,000 from £52.5m PBT to £52.9m.

About Author



Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 1, 2019PPMA Total Show
  • October 17, 2019Future Food-Tech
  • November 18, 2019Plastics Caps and Closures Conference 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here