Pork giant Cranswick joins Yorkshire’s £1bn sales club

Martin Davey, chairman of Cranswick
Martin Davey, chairman of Cranswick
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PORK products group Cranswick said annual sales smashed through the £1bn barrier for the first time.

The Yorkshire business said revenues rose 0.8 per cent to £1.003bn, while adjusted pre-tax profits rose 10.6 per cent to £57.8m in the year ending March 2015.

Chairman Martin Davey said: “I am pleased to report that Cranswick has made excellent strategic and commercial progress in the last year.

“Sales have exceeded £1bn for the first time, an achievement in which all at the company can be rightfully proud.

“The board’s strategy for the development of the protein base and customer profile of the business was illustrated by the acquisition, in October 2014, of Benson Park, a leading producer of premium British cooked poultry products serving the fast growing ‘food to go’ sector.”

He added: “Following a year of significant commercial and strategic progress for Cranswick, the board looks forward to the opportunities that lie ahead.

“Cranswick benefits from some of the most efficient and well-invested production facilities in the UK food producer sector.

“This, in conjunction with our growing international export channels and strategy of diversifying our product portfolio, leaves the board confident that Cranswick is well positioned to continue its successful long term development.”

The board is proposing to increase the final dividend by 6.4 per cent to 23.4 pence per share.