Cranswick revenues grow 6.6 percent during FY 2015
Company’s sales eclipse GBP1 billion for the first time
Cranswick, a U.K.-based pork and poultry business, reported a 6.6 percent improvement in revenues during the fiscal year ending March 31.
The company, in reporting its preliminary financial results on May 24, revealed that its revenue for the year was at GBP1.07 billion (US$1.58 billion).
“The past year has been one of strong commercial growth and continued strategic development for Cranswick. This has enabled sales, which exceeded GBP1 billion for the first time a year ago, to progress further,” Martin Davey, chairman of Cranswick, stated in a press release.
Poultry ventures expected to benefit Cranswick
Cranswick in 2014 acquired Benson Park, a leading producer of premium British cooked poultry products, and in April 2016 acquired CCL Holdings, a leading integrated poultry producer that supplies a broad customer base across retail, foodservice, wholesale and manufacturing channels.
“The board considers that Cranswick now has a base from which to move forward and develop a strong presence in the poultry sector over the longer term,” stated Davey.
“The business has made significant progress both commercially and strategically over the past year. There are strong customer relationships, a broadening product portfolio and growing export channels. Aligned with well-invested and efficient production facilities, skilled management teams and a strong balance sheet this gives the Board confidence that Cranswick is well positioned to meet the challenges that may arise and to continue its successful long-term development.”