Cranswick records growth despite Covid-19 setbacks
One of the UK’s largest meat processors, Cranswick, has recorded a growth of sales of 21% to £931.6 million despite feeling the force of the Covid-19 pandemic throughout the year.
A number of Cranswick sites were forced to close earlier this year as a result of the pandemic, with other sites also recording outbreaks as recently as October.
However, in its unaudited results for the 26 weeks ended 26th September 2020, the company also saw group operating profits grow by 30.8% to £62 million.
Fresh pork accounted for 31% of Cranswick’s revenue for the six month period, an increase of 6.9%. Gourmet products also represented 15% of revenue, with poultry products accounting for a further 34.9%.
“Our outlook for the current year is unchanged and we have a solid platform from which to continue Cranswick’s successful long-term development.”
Cranswick also revealed an investment of £7.3 million at its three pork processing facilities and its farming infrastructure in order to improve automation and expand farming capacity, and to enhance the company’s sustainability credentials.
The convenience category, which consists of cooked meats products, represented 39% of revenue and sales increased by 21.5%, which Cranswick attributes to more consumers eating at home during lockdown.
Adam Couch, Cranswick’s chief executive officer, said: “I am incredibly proud of our colleagues who have performed so brilliantly in responding to the extraordinary and
unparalleled challenges we currently face. I would again like to thank them for their professionalism, commitment, dedication and passion.
“We have made a strong start to the year. Although we remain cautious about the longer-term economic impact of Covid-19 and the continued uncertainty surrounding the ongoing Brexit negotiations, we are well positioned to address these challenges.
“Our outlook for the current year is unchanged and we have a solid platform from which to continue Cranswick’s successful long-term development.”
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