Cranswick confident as sales rise

The Hull firm said trading for the eix months to September 30 also showed turnover up 8 per cent at 384.3m.

Pre-tax profits rose 12 per cent to 23.8m.

Martin Davey, chairman of Cranswick which supplies fresh pork and gourmet sausages to leading supermarkets such as Sainsbury's and Tesco, said there had been a "challenging economic environment.

"There has been further substantial investment in the group's facilities to enable improved efficiencies and to raise the production capacity to accommodate the anticipated on-going growth of the business over the years ahead.

"Investment has been made in a number of areas including fresh pork, sausage, bacon and cooked meats.

Bernard Hoggarth, chief executive, said: "There are several reasons to continue to be optimistic. Our business operates from what are widely regarded as some of the best invested production facilities in the UK.

"This, coupled with the group's gourmet product ranges, its reputation for quality and capability of offering several tiers through to value ranges, leaves it very well positioned going forward."

The dividend shot up 10 per cent to 8.8p per share.

Cranswick also saiad net debt stood at 41.5m, compared to 61.0m the same time last year. Mr Hoggarth said he was confident about the second-half of the year.