Food scares and new rules help us, says Cranswick chief
Tuesday 21 May 2013
Food scares and stricter pig production rules across Europe will all be good for the bacon, sausage and cooked meats group Cranswick, its chairman said yesterday.
Martin Davey said: “Recent issues in the integrity of the supply chain for meat products and the introduction in 2013 of higher welfare standards for pig production in the EU enhance the competitive position of UK-based pork processors. The company’s well-invested asset base, providing efficient means of production and headroom for future growth, along with an experienced management team and a robust balance sheet should enable it to capitalise on opportunities that arise.”
Cranswick’s headline profits rose 8 per cent to £49.3m in the year to March on sales 7 per cent ahead at £875m. Fastest growth came from premium hand cured, air-dried bacon, where sales rose 13 per cent.
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