Business booming at Cranswick as work begins on world class facility

By Hull Daily Mail | Posted: 3 Aug 2018

Business is booming at Hull-based food producer Cranswick Plc, as it announces work has started on its new “world-class” facility in Suffolk.

Revenue at the FTSE 250 company, established in Hull in 1974, rose by more than three per cent on the same three-month period last year, as the company continues to fork out in investment.

Exports are also up at Cranswick, the company has announced, as it also opened its new continental products factory near Manchester.

Read more: Cranswick announces major turnover rise after record £59m investment

A statement released by Cranswick said: “The Group continues to invest significantly across its asset base to add capacity and capability and to ensure it can deliver high quality food products to its customers from modern, well-invested and efficient facilities.

“During the period, the Group commissioned its new, purpose-built continental products factory in Bury, Greater Manchester.

“The facility, which consolidates production from the Group’s two original continental products sites, provides substantial additional capacity to support future growth.”

The company moved into food production in the 1980s, and today is one of the largest producers in the country.

They supply a range of sausages, cooked meats, continental foods, fresh meats and pastries.

Cranswick’s new poultry processing facility in Suffolk is expected to open late next year, and will double the existing capacity with room left for future expansion.

The company has said it is positive for the future, and is looking for future development moving forwards.

It said: “With experienced management at all levels of the Group, a strong range of products, a well-invested asset base and a robust financial position, the outlook for the current financial year remains unchanged, and the Board is confident in the continued long-term success and development of the business.”

Read more: Big businesses give the economy £400m boost

The strong start to the financial year comes on the back of a strong 2017/18 for Cranswick.

The business recorded a record turnover of £1.46bn, and announced adjusted profits before tax of £92.4m.

Cranswick’s impressive growth has not gone unnoticed in recent months, having drawn praise from the City Index.

Fiona Cincotta, senior market analyst, said: “Cranswick has delivered the goods yet again, as Britain's appetite for bacon and sausages shows little sign of abating.

“What's particularly pleasing about this result is the improvement in margins.

“With Sainsbury's bid for Asda potentially putting a squeeze on suppliers, Cranswick's investment drive has proven extra timely.”

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