Cranswick full-year profits have jumped following investments in enhancing its farming infrastructure and expanding its vertical integration.

In the 53 weeks to 30 March 2024, the UK food producer, which also owns brands including Ramona’s and Cypressa, saw adjusted pre-tax profit surge 26.1% to £176.6m, while sales grew 11.9% to £2.6bn.

On a comparable 52-week basis, sales were up 9.8%, which Cranswick said reflected effective inflation recovery and was underpinned by 4.5% volume growth in UK food, with this growth accelerating through the second half of the year.

The group’s adjusted operating margin also increased from 6.3% to 7.1%.

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Cranswick chief executive Adam Crouch praised the “ongoing successful performance” and said that much of this is owed to the company’s ongoing investment in its feed milling and pig farming operations.

He said: “We have increased the size, scale and quality of our pig herds through ongoing organic growth and the acquisitions of new indoor and premium outdoor pigs.”

A total of £46.1m was invested in two strategic acquisitions, including a £32.8m acquisition of the Elsham Linc indoor pig farming business, which added additional feed milling capability, with self-sufficiency in UK pigs now over 50%.

The second £13.3m acquisition of Froch Foods added further cooked meat and bacon processing capacity to the business.

Crouch added: “Over the last 12 months we have strengthened our asset base, substantially expanded our farming operations, enhanced market positions and developed new customer relationships.

“We continue to make good progress against each of our strategic objectives and we are well placed to continue our successful development in the current financial year and over the longer term.”