Cranswick brings home the bacon as profits rise
Tuesday 25 May 2010
Increased supermarket demand for bacon and sausages helped Cranswick's annual profits jump 26 per cent to a new record, the pork products supplier said yesterday.
The group, which was started by farmers in the early 1970s to produce pig feed, said sales increased by 22 per cent to £740m in the year to 31 March, while pre-tax profits lifted to £43.8m from £34.7m a year earlier. Cranswick said sales of cooked meats rose 13 per cent, sausages 23 per cent and bacon 61 per cent, supporting its decision to invest in those categories in recent years.
The company added that increased consumer spending on such products looked set to continue this year due to the "value and versatility" of pork. Cranswick, which has supply contracts including Sainsbury's "Taste the Difference" range, expanded last year with the acquisition of family-run Bowes of Norfolk in a £17.2m deal.
As well as providing pork for Tesco, Bowes supplies the UK's main meat manufacturers, who make pies, bacon and processed meats for retailers and restaurants.
- 1 Windows 10: man updates PC, wakes up to find porn slideshow on repeat
- 2 The 'world's most beautiful vagina' has been debunked by science
- 3 John Green schools morning show hosts after awkward interview with Cara Delevingne
- 4 Bulletproof armadillo puts Texas man in hospital after shot bounces off hard shell
- 5 Doctors declare war on Jeremy Hunt over weekend working 'myths' amid plan for seven day NHS
Yvette Cooper: Our choice is years of Tory rule under Jeremy Corbyn – or a return to a Labour government
Is Britain really full up? Are migrants taking our jobs? Leading academic answers the most common anti-immigration claims
Calais Migrant Crisis: Deputy Mayor of Calais labels Cameron's use of 'swarm' as 'racist' and 'ignorant'
Labour leadership: New poll shows party is now even 'less electable' than under Ed Miliband
While we fixate on Calais, the Home Office is quietly deporting dozens of migrants on 'ghost flights'
Calais crisis: The seven claims made about the migrants - and the reality
iJobs Money & Business
£30000 - £35000 per annum: Recruitment Genius: This is an exciting opportunity...
£13000 - £15000 per annum: Recruitment Genius: Are you passionate about custom...
£22000 - £25000 per annum: Recruitment Genius: Main purpose: Under the directi...
£35000 - £37000 per annum + benefits : Ashdown Group: Contracts Manager - City...