Cranswick celebrates a strong Christmas

​The Hull-based firm said ​​e​xport sales ​over the three months to December 31 ​​grew strongly, with Far East revenues well ahead of the same quarter ​in 2015, reflecting both ongoing demand from the region and increased output from the ​g​roup’s two primary processing facilities.

​The group added that t​rading during the third quarter of the financial year was in line with the ​b​oard’s expectations​.

​Cranswick said that​ input costs rose during the period, but efficiency improvements, internal pig production and constructive pricing discussions with customers helped partially mitigate the impact.

Analyst Darren Shirley at Shore Capital said: "We see today’s update as further confirmation that Cranswick is very high quality, best in class operator.

​"​With a still young and ambitious management team set upon delivering further growth from its market leading position in pork, coupled with the medium to long term potential from the group’s still modest but growing presence in poultry we view Cranswick as a core holding in the UK consumer arena.​"​

​The ​g​roup acquired Dunbia Ballymena, a leading Northern Irish pork processing business ​in November. Cranswick said it has performed in line with expectations since acquisition and integration is proceeding to plan.

Crown Chicken, which ​it​ ​bought last April, contribute​d​ strongly during the period. ​Cranswick said t​he business is being integrated successfully and is forging strong links with the ​g​roup’s premium cooked poultry and pig farming operations.

​Cranswick said it is​ invest​ing​ heavily across its asset base to increase capacity, add new capability and drive further operating efficiencies.

Work has recently started on the new, purpose-built continental products factory in Bury, Greater Manchester. This substantial investment will consolidate the ​g​roup’s two existing facilities and provide additional capacity to support this high growth category.