UK food manufacturer Cranswick has announced sharp rises in turnover and profit for the six months ended 30 September 2005.
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Turnover rose to £217.4m (US$373.1m), compared with £144.3m in the same period a year earlier. Pre-tax profit was £13.6m, compared with £10.5m. The period included the integration of Perkins Chilled Foods.
“The successful integration of Perkins, our largest acquisition to date, was a key feature of the period,” said chairman Martin Davey. “The business delivered an excellent result leading to the enlarged cooked meats activity turning in a very positive performance.”
“The development of traditional dry cured bacon has now evolved from start-up phase through to volume output,” he said. “The cost of developing the business has been absorbed, positive results are now coming through, and we believe there is potential for significant growth in this business.”
“Agribusiness has seen a favourable change in fortunes from a year ago,” he said. “An increase in sales of specialist piglet feeds and enhanced operating efficiencies following a rationalisation of sites were contributory factors to this improvement.”
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