It plans to expand its air-dried bacon facility at Sherburn, opened two years ago, as it is already hitting capacity during peak demand. The air-dried bacon category, which saw 61% growth for the pork processor in the past year, had significant potential for further growth, said chief executive Bernard Hoggarth.
Cranswick was also close to completion on the extension of its Lazenby's sausage factory in Hull, which will increase capacity 50%, as well as a similar increase at its Preston site, he said.
Pre-tax profits rose 26% to £43.8m on sales up 22% to £740m in the year to 31 March. Net debt was reduced by £11.9m to £54.7m.
The company will also launch a new range of charcuterie under the Jamie Oliver label in the autumn.