Cranswick, a prominent UK food producer, is poised for a prosperous Christmas following notable financial achievements in the first half of the year.
The company’s adjusted profit saw a significant increase, reaching £99.6 million, a notable rise of 16.5% compared to the previous year’s £85.5 million for the same period. This surge highlights Cranswick’s robust financial health.
Additionally, pre-tax profit experienced a moderate rise, climbing by 3.8% to £90.2 million, while sales grew by 6.1%, reaching £1.32 billion. The core driver of this growth was the UK food segment, which recorded a sales increase of 6.4%, supported by a 7% volume growth.
Adam Couch, Cranswick’s chief executive, commended the company’s first-half success, attributing it to strategic investments in poultry and agriculture. He stated, “We have delivered another strong first half performance with good volume-led growth through capacity expansion and market share gains from close alignment to our key long-standing customers and a relentless focus on quality and industry leading service levels.”
Couch further emphasised that Cranswick remains on a trajectory of further progress into the year’s second half. He revealed that the Christmas order book is robust and consumer demand for innovative products remains high, showcasing the appeal and versatility of their core pork and poultry offerings.
Cranswick’s financial performance and strategic positioning signal a strong likelihood of continued success in the forthcoming months, particularly during the crucial Christmas period.
