Upmarket sausage maker Cranswick announces stellar results

Upmarket sausages to bacon producer Cranswick has announced stellar annual results following a leap in like-for-like sales.
By The Newsroom
Published 22nd May 2018, 09:51 BST
Updated 22nd May 2018, 09:56 BST
The City of London skyline. Cranswick has published its full year results. Photo: Jonathan Brady/PA WireThe City of London skyline. Cranswick has published its full year results. Photo: Jonathan Brady/PA Wire
The City of London skyline. Cranswick has published its full year results. Photo: Jonathan Brady/PA Wire

The Hull-based firm also benefited from a number of new contract wins and said it has invested a record £59m in its operations.

Like-for-like revenue increased by 12.7 per cent while adjusted profit before tax increased 22.4 per cent to £92.4m.

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Adam Couch, Cranswick’s chief executive Officer commented: “We have delivered a strong financial performance for the year and made further progress in delivering our strategy. We grew like-for-like revenue by 13 per cent and increased adjusted profit before tax by 22 per cent.

“We spent a record £59 million across our already well invested asset base. This brings the total investment in our infrastructure over the last eight years to over £270 million.

“Over the last 12 months we have strengthened our asset base, enhanced market positions and developed new customer relationships. We continue to make good progress against each of our strategic objectives and we are well placed to continue our successful development in the current financial year and over the longer term.”

Related topics:Adam CouchCranswickHull