Revenue growth for Cranswick plc in the first quarter has been strong — both overall and for its poultry business.
These are among the developments highlighted by the group’s CEO, Adam Crouch, on the recent publication of the group’s fiscal results for the 13 weeks to June 29.
“Our poultry business is growing strongly and the substantial investment we are making in our two value-added facilities in Hull will create the headroom for further expansion in this category,” he said.
The firm has also expanded its pig herd over the period.
Driven by strong demand in its core food categories in the U.K., Cranswick reports sales revenue for the quarter was up 6.7% year-on-year. Its premium products performed well, and input costs have eased compared with last year.
British consumers continue to appreciate the value for money, versatility and quality of its pork and poultry ranges, according to the company. While export sales volumes were higher than the comparable period, prices were down in both its Far Eastern and European Union markets.
Registering sales revenue gains for the reporting period was the group’s Pet Products business.
During the last quarter, Cranswick plc completed its acquisition of one if its long-term suppliers of pigs based in East Anglia in eastern England. Production of high-welfare outdoor-bred pigs from that acquisition provides a boost to Cranswick’s self-sufficiency in premium British pigs, the firm reports. The additional production is gradually being integrated into Cranswick’s Wayland Farms operation.
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With annual production of more than 59 million chickens, Cranswick plc is among the largest poultry companies in Europe, according to WATTPoultry.com’s Top Poultry Companies survey.
The company was originally founded in the 1970s in East Yorkshire to produce animal feeds, according to the firm’s web site. However, it has since evolved as a supplier of fresh and value-added foods, including fresh pork and poultry meat, convenience products, and gourmet foods. It also produces pet foods.
Cranswick’s workforce of more than 15,000 are based in 23 facilities in the U.K. As well as growing premium and discount retailers, the company supplies major grocery chains, and has substantial exports.
Results of the last full year ended March 30, 2024 showed the group’s revenue of just under GBP2.6 billion (US$3.3 billion), and pre-tax profit of GBP158.4 million.
At the start of this year, Cranswick plc announced its acquisition of Froch Foods Holdings Ltd., a processor of value-added pork and poultry products based near Leeds in West Yorkshire.
