Higher pig prices fail to dampen Cranswick profits

Food producer Cranswick has reported a solid performance for the six months ended 30 September. Cranswick's profit before tax jumped 16 per cent, reaching £26.1m, while reported revenue rose by 15 per cent to £483.5m. Growth in sales and a newly commissioned pastry facility, as well as pig breeding and rearing activities, were cited as positive features in the half year results. Pork products are one of the company's central concerns, which has led to extra efforts to mitigate costs in the wake of historically high pig prices.

Chairman, Martin Davey, said:

The Board anticipates that the full year performance will be in line with its expectations.

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 Board remains confident in the continued long term success and development of the business.