Cranswick has posted record profits and completed its transformation from a farmer-owned feed milling business to an added-value meat supplier.

Pre-tax profits in the year ending 31 March were up 12% at £32.4m on sales up 19% to £525m.

Chairman Martin Davey predicted more good news on growth this year and said the company would keep building its premium food offer. It is installing three new production lines at Lazenby's premium sausage plant to take advantage of new contracts supplying WeightWatchers and The Black Farmer. And it is building an 8,000 sq m bacon factory in Yorkshire to increase bacon production fivefold to 400t/week.

Cranswick has also secured planning permission to replace its main pork processing site in Hull over the next two years, after its fresh pork sales rose 23% against 2% market growth.

But Cranswick will abandon its pig farming roots by selling its feed mill to BOCM Pauls for £7m.