Cranswick growth continues in difficult times
Cranswick growth continues in difficult times
Cranswick’s underlying turnover, in the six months ending 30th September, has continued to grow , up 5% from the previous year.
In a company statement Cranswick said: “Rising animal feed prices and the cost to European producers of implementing new EU welfare regulations, which will raise standards towards those existing in the UK, are giving rise to herd reductions in the UK and in Europe, with further reductions likely.
“UK pig prices, which are at a three-year high, and those throughout the rest of the EU have been rising in recent weeks and further increases are anticipated. This is an issue affecting the whole supply chain and the scale of the inflation and the need to ensure continuity of supply will necessitate discussions on price increases with the group’s customers; these are underway.”
However, the group reports it remains confident for the future: “With experienced management at all levels of the group, a strong range of products, a well invested asset base and a robust financial position, the board remains confident in the continued long term development of the business.”
