Cranswick insists it remains on track despite slowing profit growth

PUBLISHED: 16:30 27 November 2018 | UPDATED: 18:06 27 November 2018

Adam Couch, chief executive of Cranswick. Picture: Cranswick.

Adam Couch, chief executive of Cranswick. Picture: Cranswick.


Meat product maker Cranswick has reported near-flat profit growth of 1%, against a tougher background for the meat market.

Lower pork prices in China and a range review at Marks & Spencer were factors in the company’s slower growth.

But sales of sausages and poultry were up. Revenue was almost flat at £719.2m.

Cranswick is on track to build a new £60m poultry processing facility in Eye, Suffolk, by October 2019, which will help to boost volume growth.

Chief executive Adam Couch said: “The first half performance was in line with our expectations. They were achieved despite more uncertain domestic market conditions and softer pricing in key export markets.

“The group’s capital investment programme remains firmly on track. During the period we spent a record £41m across our already well invested asset base as we build a platform for future growth.”

Become a supporter

This newspaper has been a central part of community life for many years, through good times and bad. Coronavirus is one of the greatest challenges our community has ever faced, but if we all play our part we will defeat it. We're here to serve as your advocate and trusted source of local information.

In these testing times, your support is more important than ever. Thank you.

Most Read

Most Read

Latest from the Eastern Daily Press