Search

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.

Archant

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.”

Search hundreds of local jobs at Jobs24

Management Jobs

Show Job Lists

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter

Our Privacy Policy

Insight

Dan Evans, a partner at Cozens-Hardy solicitors, considers whether Overage is a sensible option or an unnecessary complication.

At this time of year, many of us throw caution to the wind so we can ensure our loved ones have a good time over Christmas.

Women in Business

cover

Enjoy the
Women in Business
digital edition

Read

Business East

cover

Enjoy the
Business East
digital edition

Read

The Best Employers

cover

Enjoy the
Best Employers
digital edition

Read

Celebrating Success

cover

Enjoy the
Celebrating Success
digital edition

Read

B2B Exhibition

cover

Enjoy the
B2B Exhibition
digital edition

Read

Green 100

cover

Enjoy the Green 100
digital edition

Read

Meet the Team

Mark Shields

Business Editor

|

Chris Hill

Agricultural and Farming Editor

|

Business Most Read

Awards

Norfolk Future 50 EDP Business Awards Green 100