UK processed meats and sandwiches producer Cranswick has reported a 16% rise in first-half pre-tax profits on the back of rising sales.
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The company reported that its food business saw a 23% sales increase to GBP285.1m, with most product categories achieving double-digit growth.
Cranswick said it was gaining market share “through the development of its customer base and this, along with being positioned in a number of premium categories, which are showing good growth, is driving sales”.
Pre-tax profits jumped to GBP18m for the six months to the end of September. Revenue climbed 22% to GBP303.2m.
Cranswick said its food business had absorbed some raw material price inflation in certain areas.
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By GlobalDataThe outbreak of foot and mouth disease and start-up costs related to its acquisition of DeliCo last year had led to increased costs but these had been offset by the increase in sales, the company said.
