Cranswick posts strong results boosted by festive trading

Cranswick
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Food producer Cranswick has reported strong revenue growth in the 13 weeks to 27 December, driven by a strong Christmas trading period.

Cranswick is a major pork supplier for retailers across the UK, with ranges including fresh pork, poultry and gourmet cooked meats.

Moving forward, the business said it now expects full-year adjusted profit before tax to be towards the upper end of current market expectations.

The company reported that the premium added-value ranges performed well, and the strong Christmas performance was driven by new product launches for strategic retail partners.

Pet products revenue also saw strong growth due to the introduction of premium lines.


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The business saw its poultry revenue significantly increase compared to the year prior due to better fresh poultry pricing and onboarding premium retail business at the added-value cooked and prepared poultry sites.

Additionally, acquisitions, including the Blakemans, JSR Genetics and Fridaythorpe feed mills, continued to add value to the company.

Adam Couch, CEO of Cranswick, said: “We have delivered another strong quarter of growth underpinned by revenue growth across all product categories and a record Christmas trading period.

“This excellent performance is the result of our unrelenting focus on delivering outstanding service levels, sector-leading innovation and unrivalled product quality across our festive product range for our customers.”

The food manufacturer forecasts a total capital expenditure of between £160m and £170m, which was lower than the previous guidance due to the timing of major project spending.

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Cranswick posts strong results boosted by festive trading

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Food producer Cranswick has reported strong revenue growth in the 13 weeks to 27 December, driven by a strong Christmas trading period.

Cranswick is a major pork supplier for retailers across the UK, with ranges including fresh pork, poultry and gourmet cooked meats.

Moving forward, the business said it now expects full-year adjusted profit before tax to be towards the upper end of current market expectations.

The company reported that the premium added-value ranges performed well, and the strong Christmas performance was driven by new product launches for strategic retail partners.

Pet products revenue also saw strong growth due to the introduction of premium lines.


Subscribe to Grocery Gazette for free

Sign up here to get the latest grocery and food news each morning


The business saw its poultry revenue significantly increase compared to the year prior due to better fresh poultry pricing and onboarding premium retail business at the added-value cooked and prepared poultry sites.

Additionally, acquisitions, including the Blakemans, JSR Genetics and Fridaythorpe feed mills, continued to add value to the company.

Adam Couch, CEO of Cranswick, said: “We have delivered another strong quarter of growth underpinned by revenue growth across all product categories and a record Christmas trading period.

“This excellent performance is the result of our unrelenting focus on delivering outstanding service levels, sector-leading innovation and unrivalled product quality across our festive product range for our customers.”

The food manufacturer forecasts a total capital expenditure of between £160m and £170m, which was lower than the previous guidance due to the timing of major project spending.

FinanceNewsSuppliers

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