Cranswick reports strong Q3
Cranswick has reported good growth in pork consumption and sales, according to its third-quarter results.
The results released yesterday (30 January) showed that pig prices have remained high, despite a slight dip in recent weeks,
The company reported that the results were in line with its expectations with like-for-like sales being up 13% and total revenues up 14%.
In the statement, Cranswick who just pulled out of the Dead Weight Average Pig Price (DAPP) said: “The pig price remained high through Q3 (DAPP is currently 167p/kg), although the group fared better on margins in Q3 through efficiencies, increased internal pig production and constructive pricing discussions. Q4 margins will depend on the direction of the pig price, but it has come off its peak in recent weeks.”
Cranswick also acquired two more pig breeding units during this time period which means it can now produce 25% of its pigs internally.
The results further stated that next quarter is due to be quieter as per usual.
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