Q3 figures show good progress for Cranswick
Sales of bacon and fresh pork products accelerated over the Christmas period as shoppers chose versatility and a relatively low price over other proteins, Cranswick has revealed.
The pork processor reported a strong sales performance in its Q3 interim management statement, following a poor performance in Q2, due to increasing costs. There was a 10% year-on-year increase in overall sales, which the company attributed to the growing popularity of pig-meat in the UK and the increase in its market share. Exports also remained buoyant.
The company also said that, although the operating margin had recovered from its low first half, it still remained below that the figure from the same time last year. However, with operating cash outflow over the period in line with last year’s figures, it said the group was in a strong financial position.