Over the third-quarter trading period, U.K. food company Cranswick PLC reports strong growth.
Continuing developments in the business over the first half of the fiscal year reported in November, domestic sales held up well, while costs were kept under control.
According to CEO Adam Crouch, Cranswick’s core market in the U.K. remained resilient as the firm’s customers and the country’s consumer continue to appreciate the quality, value and versatility of its poultry and pig meat products.
Trading robust over festive season
In December of 2022, Cranswick reports particularly strong trading in its fresh pork, convenience foods and festive gourmet ranges.
While the firm’s new breaded poultry facility in Hull contributed more to revenue, sales of products from the cooked poultry section in the city were down.
So far, avian influenza outbreaks in the U.K. have not significantly impacted revenue from its poultry sales, according to Cranswick. Earlier outbreaks at five of its farms resulted in financial compensation for the lost birds. Although the incidence of new outbreaks appears to be in decline across England, the company reports it is maintaining high biosecurity at its farms.
Although export sales to Asia are down slightly in volume year-on-year, pricing is significantly stronger, Cranswick reports.
As the firm continues to reshape the Cranswick Pet Products business, it contributed to the group’s revenue over the most recent quarter.
Continuous innovation
Commenting on the latest quarter’s result, Crouch recognized the dedication of its workforce in bringing about successful progress and development.
Cranswick has also maintained focus on innovation.
Last month, Cranswick turned its attention to labeling as one of its latest sustainability initiatives.
Lately, it has installed insect listening devices on its outdoor pig farms in the eastern English counties of Lincolnshire and Norfolk. Using specialist equipment from AgriSound, Cranswick will be able to monitor insect activity and track pollination at its farms.
Each of the PollyTM devices is solar-powered, according to AgriSound founder and CEO, Casey Woodward.
“They listen 24/7 for the sounds of insects, and then use sound-analysis to translate the data into activity scores,” said Woodward. “These are automatically sent back to the Cloud, where the farmer can view them via an app or web application.”
More on Cranswick PLC
Formed in the 1970s by farmers in East Yorkshire, Cranswick initially focused on feed production. Since then, it has developed into a vertically integrated business producing a range of fresh foods. These include fresh pork and poultry, gourmet products, and pet foods. As well as grocery chains, the group supplies both premium and discounter retail channels.
For the last full year (to March of 2022), Cranswick generated sales of over GBP2.008 billion (US$2.42 billion), and pre-tax profit of GBP129.9 million.
Of the company’s overall 12-month revenue, 38% was generated by its convenience foods business, 26% from fresh pork, 20% from fresh poultry, and 16% from its gourmet products.
