Long term success predicted at pork producer
Pork producer Cranswick yesterday said it was confident of long-term success despite the 'challenges' facing consumers this year.
Announcing its third-quarter results, ending December 31, the Hull-based firm, which bought Bowes of Watton, now Cranswick Country Foods, in 2009, said underlying like-for-like sales increased 5pc.
Volumes were also ahead by 10pc on the same basis.
However, total sales were in line with those of the same period last year. This reflected business transferred to the Farmers Boy (Deeside) joint venture, Cranswick said.
Overall operating margin was in line with management's expectations, the firm said.
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The three months saw a new abattoir at the company's primary pork processing site and the extension to its Lazenby's sausage facility, both in Hull, completed.
The firm is also working on an air-dried bacon facility at Sherburn-in-Elmet, near Leeds.
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'These facilities provide the company with substantial additional capacity and the potential to deliver on-going efficiency improvements,' the firm said.
'With experienced management throughout the group and a well invested asset base, the board, whilst mindful of the challenges facing the consumer this year, remains confident in the continued successful long-term development of the business.'