Cranswick anticipates a prosperous Christmas, building on a strong year.
- The UK food producer’s adjusted profit rose to £99.6m, marking a 16.5% annual increase.
- Sales reached £1.32bn, with notable boosts from the core UK food sector.
- CEO Adam Couch attributes success to volume growth and customer alignment.
- Strong demand for Cranswick’s pork and poultry products is expected to continue.
Cranswick, a prominent UK food producer, is poised for a prosperous December, leveraging its strong performance over the first half of the financial year. The company has reported an adjusted profit of £99.6 million for the 26 weeks ending September 28, marking a significant 16.5% increase from the previous year’s £85.5 million. This impressive growth highlights Cranswick’s robust financial health heading into the holiday season.
Sales figures for the same period have also been promising, increasing by 6.1% to a total of £1.32 billion. A major contributor to this growth is the company’s core UK food business, which saw a 6.4% rise in sales, supported by a 7% increase in volume. The strong performance across these segments indicates a solid market position that Cranswick intends to capitalize on during Christmas.
Adam Couch, Cranswick’s CEO, has commended the company for its successful first half, citing capacity expansion and market share gains as primary factors for the growth. He stated, “We have delivered another strong first half performance with good volume-led growth through capacity expansion and market share gains from close alignment to our key long-standing customers and a relentless focus on quality and industry leading service levels.” Couch remains optimistic about the second half of the year, noting a robust Christmas order book and high demand for their innovative products. This focus on quality and customer relationships underscores their strategy for sustained growth.
The enthusiasm for Cranswick’s core pork and poultry ranges remains high, reflecting the UK consumer’s appreciation for quality, value, and versatility. These factors are propelling the company as it prepares for the festive season, ensuring that they are well-positioned to meet consumer demand and drive further success. The company’s emphasis on quality and innovation resonates with consumers, maintaining their interest and loyalty.
Cranswick’s strategic focus on quality and customer alignment bodes well for a successful festive season.
