UK: Cranswick books "strong" H1 sales growth
Cranswick's complete H1 numbers will be issued next month
UK meat supplier Cranswick has booked "strong" sales growth in the first half of its fiscal year, boosted by "good progress" in the firm's CCF Norfolk division.
For the six months to the end of September, the firm reported an 8% increase in turnover.
Adjusting for the impact of Cranswick's cooked meats transaction with Morrisons in July, the headline increase was 12%.
Overall operating margin was in line with management's expectations, the firm said today (5 October).
In July, the principal assets of Cranswick's Deeside cooked meats facility were transferred to Farmers Boy, a company within UK retailer Morrisons. Cranswick received 49% of the shares as consideration.
Elsewhere, the extension of Cranswick's Lazenby's sausage facility and a new abattoir at the company's primary pork processing site in Hull are expected to be fully commissioned this month.
The company intends to announce its interim results on 15 November.
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