Cranswick profits surge again
18th May 2021 / By Alistair Driver
Cranswick has reported a 27% leap in a profits to around £130 million during the latest financial year on the back of ‘exceptionally robust demand’ across all product categories .
The Hull-based pig and poultry business saw strong revenue growth £1.9 billion, up 13.9% or 12.1% like for like, in the year to March 27, 2021, as demand was boosted by the dramatic transformation in consumer purchasing habits during the pandemic.
Adjusted group profit before tax rose from 102.3m in 2019/20 to £132.5m in 2020/21, a 26.1% increase.
This is a continuation of years of uninterrupted revenue and profit growth, boosted also by booming exports to China and other Asian markets.
Adam Couch, Cranswick’s chief executive officer, said: “We have delivered strong growth and made further strategic progress in a year of unparalleled challenge and complexity."
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