Cranswick results strong despite rising feed costs

Cranswick results strong despite rising feed costs

Cranswick plc’s interim results for the six months ending 30th September 2012 saw the firm’s revenues and pre-tax profits climb, despite rising feed costs in the pork sector.

The business reported turnover up by 6% to £418 million and a re-tax profit of £22.5 million, up 21% on last year.

Chairman Martin Davey said: “It is pleasing to report continued growth in sales, in what continues to be difficult economic and consumer environment, reflecting the ongoing popularity of pork with the consumer, driven by both the versatility and the low relative price of pork to other proteins.”

Chief executive, Adam Couch added: “Despite the well documented challenges faced by the pig industry both at home and across Europe, the business’s retail customers and the UK consumer, the group has delivered a pleasing first half performance through focused alignment with customer andconsumer needs. This action is supported by well invested, highly efficient, industry leading facilities and strong management in all areas of the business.”

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