U.K. meat and poultry company Cranswick reported a strong fiscal year for its poultry division and has high expectations for its future plant in Eye, Suffolk.
While reporting its annual results on May 21, Cranswick reported a revenue of GBP1.44 billion (US$1.83 billion), a figure in line with its revenue from its previous fiscal year. The company’s poultry division accounted for 14 percent of that revenue. According to the company, its like-for-like poultry revenue increased by 18 percent on a year-over-year basis.The fiscal year ended on March 31.
Its ready-to-eat chicken category volumes grew by 2.7 percent, while its fresh chicken volumes increased by 3.9 percent. Cranswick also reported its sales of premium cooked poultry “grew strongly.”
Plant under construction
While reporting its financial results, Cranswick also offered an update on its new poultry plant under construction in Eye, Suffolk.
The construction of the facility, valued at GBP75 million (US$95 million), is progressing according to plans.
“The factory, which will be capable of processing 1.2 million birds per week, is expected to be operational towards the end of the new financial year with the project being fast-tracked to support the anchor customer (Morrison’s) for the new site,” the company stated in a press release.
The new facility, according to the company, will be the first new primary poultry plant to be constructed in the U.K. for almost 30 years. Cranswick says when the plant is completed, it will “be the most technologically advanced and efficient facility in the U.K. industry.”
Cranswick earlier reached an agreement with Marel Poultry to install the processing line.
The company has begun recruitment efforts for people to work at the new facility.
“The new Eye and existing added-value poultry facilities and the group’s broadening customer base provide a solid platform to further develop the poultry business and drive future growth in this attractive and expanding protein category,” the company stated.
