Cranswick sees demand from shoppers grow for '˜alternative white meat'

The Hull-based group said export sales also grew strongly in 2016, reflecting a robust demand for pork products in Asian markets.

Cranswick’s chief executive Adam Couch said the Chinese market is still the leading player, but Cranswick has strong aspirations to grow in Japan.

At the moment Cranswick’s sales to China are made up of ribs and products that the British consumer isn’t interested in such as offal, but Mr Couch said that there is strong demand for British style, non-processed sausages.

“Sausages are the one product line the Chinese want. I think we’d produce out there although initial products could be shipped out there. The chances are that we’d be using British meat,” he said.

Cranswick said it will report full year results in line with expectations. It has invested well over £30m over the past year and expects to invest the same amount this year.

Sales​ ​volumes ​rose 12​ per cent in the year to March 31 ​following positive trading during the final quarter of the financial year​.

​Analyst Charles Hall at Peel Hunt said: “​Cranswick delivered a strong performance with total sales up 7 per cent and like-for-like sales up 5 per cent in the year to March 2016.

“Underlying volumes grew by an impressive 10 per cent, with lower pig prices resulting in 5 per cent deflation. Margins continue to be healthy given the sharp reduction in pork prices from 140p at the start of last year to 115p now.”