Cranswick ends year with strong final quarter

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Producer of food and pet products, Cranswick, finished the year by posting a strong final quarter.

The company said underlying volumes were four per cent ahead of the corresponding quarter a year ago, with lower input prices being passed on to customers this gave rise to a one per cent increase in underlying sales.

Full year underlying sales were in line with those of a year earlier and total sales in the final quarter were four per cent higher and one per cent higher for the full financial year.

Export sales to non-European markets continued to grow with full year volumes increasing strongly compared to the previous year.

Earlier this year the group completed the extension to its cooked meats facility in the Milton Keynes. The firm said that it had added substantial capacity and was delivering ongoing efficiency gains.

Cranswick said it is in a strong financial position, with committed, unsecured facilities of £120m providing comfortable headroom.