Cranswick delivers ‘strong’ half year performance

Chris Battle who is a traditional bacon maker for Cranswick, based in Hull.
Chris Battle who is a traditional bacon maker for Cranswick, based in Hull.
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FOOD producer Cranswick today said it had delivered a “strong” half year performance, in which it recorded a rise in revenue and profits,

Cranswick has published its unaudited results for the six months ended September 30 2016. The company revealed that its half year revenue rose by 15.9 per cent to £580.8m, while adjusted profit before tax was 23.9 per cent higher at £37.9m

The company said that Crown Chicken, which was acquired in April, had made a strong contribution and its integration was proceeding to plan.

Martin Davey, Cranswick’s chairman, said: “The business performed strongly during the first half of the year.

“Crown has made a particularly positive contribution to the business, is combining well with the group’s pre-existing poultry activity and is being integrated in line with plan.

“The interim dividend is being increased by 12.9 per cent to 13.1 pence per share from 11.6 pence previously.

“Cranswick has made further commercial and strategic progress during the period whilst working closely with customers to maintain its focus on service, quality and innovation in delivering appealing and competitively priced products to the consumer.

“The board believes that Cranswick remains well positioned to deliver our expectations for the current financial year, and also to meet the challenges that may arise, as it continues its successful long-term development”.