Cranswick reported that revenues were up 9.6% during the first quarter of fiscal year 2021, attributing some of those year-over-year gains to strong retail demand and increased sales from its poultry plant in Eye, England.
Cranswick’s first quarter ended on June 26, and the United Kingdom animal protein company issued its first-quarter trading statement on July 26.
According to the trading statement, not only were revenues up 9.6% for the quarter, but volumes were up 7.7%.
Cranswick announced it was building the plant in Eye in late 2017, with expectations that it would be operational in 2019. Since its opening, the capacity has expanded, with the company stating in its report that “the capacity uplift from 1.1 million to 1.4 million birds per week” was “delivered successfully.”
“We have made a positive start to the year. Our capital investment program remains firmly on track as we build the platform to deliver our long-term growth strategy and we continue to make meaningful progress in delivering our group-wide ‘Second Nature’ sustainability strategy. We also continue to support our customers by delivering excellent service levels to ensure full availability of our products,” said Cranswick CEO Adam Couch.
“The professionalism and commitment of our colleagues across the business is the foundation on which our successful performance is based and as always I would like to thank them for their continued dedication and support.”
Additional growth in poultry sector
Cranswick also announced in its trading report that work is being done on a new premium breaded poultry facility in Hull, and that work is “progressing well.”
The overall investment in that plant is GBP30 million (US$41.4 million), with an incremental investment of GBP5 million for the expansion, which includes a third production line.
Cranswick, according to the WATTPoultry.com Top Companies Database, is one of the largest food producers in the United Kingdom. The company is a supplier of fresh pork, chicken, cooked meats and other food products. It slaughtered 26 million chickens during the past year.
