Cranswick posts 12% increase in sales

Cranswick has reported that sales in the quarter to the year ended March 31, 2016, were 12% higher than the previous year. Underlying sales (excluding the company’s Benson Park Poultry business and its pig breeding operation) were up 10%.

The figures were revealed in a trading update ahead of its full year results on May 24, 2016.

Continued positive trading during the final quarter of the financial year resulted in total full year sales volumes being 12% higher than the previous year, with underlying full-year sales volumes up by 10%. Corresponding revenues were ahead by 5%, with the company saying that its “customers and UK consumers continued to benefit from lower pork prices”.

Cranswick added that export sales grew strongly in the final quarter, maintaining the positive momentum seen in the previous nine months, and reflecting the ongoing robust demand for pork products in Far Eastern markets.

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