Increased consumer spending on bacon, sausages and ham has helped pork producer Cranswick to a major hike in profits.
The company today reported turnover for the year to 31 March was up 22% to £740m, with pre-tax profits rising 26% to £43.8m. Cranswick also reduced its net debt by £11.9m to £54.7m in the period.
Pork was increasingly seen as the ‘alternative white meat’ and had benefited from its positioning as a good value and versatile protein, chairman Martin Davey said.
Air-dried bacon, premium sausages, fresh pork and ham sales were particularly strong, he added.
“The business has developed significant expertise in the supply chain, building on its origins in pig feed production and the rearing of pigs,” he said.
“Through acquisitions, joint ventures and organic initiatives, [Cranswick] now has market-leading positions in a number of categories.”
Pork supplier Cranswick posts 11% sales rise (30 March 2010)
Sales of fresh pork boosted by downturn (6 February 2010)