Cranswick sees rise in Q3 sales following strong Christmas
Pork processor Cranswick has released its third-quarter trading statement showing sales to be slightly up on last year.
The company posted strong Christmas trading results – for the three-month period to 31 December 2014 – with sales up 2%, benefiting from sales growth for fresh pork.
Cranswick said in a statement: “The markets in which Cranswick operates continue to be competitive, but the group remains focused on delivering innovative products of the highest quality and exceptional service levels to its customers.”
However, underlying revenues were down 3%, which the company said was due to lower input costs that were passed through to the group’s customers.
Cranswick moved into the poultry sector in October with the acquisition of Benson Park. The acquisition was excluded from the trading statement as it occurred in its second quarter. However, the company said the integration of the business was in line with the board’s expectations and will be completed during the next financial year.
“This investment will create substantial additional capacity as well as enabling the business to offer a broader product range and further improve operating efficiencies,” a spokesperson for Cranswick concluded.
Cranswick reported the board remained confident in both the current financial year and long term “success and development of the business”.
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