FTSE-250 pork products maker Cranswick this morning reported a full year sales surge, with revenues up 14 per cent to £1.9bn as Brits chowed down on full englishes and BBQs as they stayed at home.
For the full year Cranswick posted pre-tax profits of £129.7m – up 26.8 per cent on 2020’s £102.3m.
The bumper year has led th Hull-based food producer to raise its dividend to 70p and top-up its staff Covid bonus another £400 to a total of £900.
Another increase to the dividend marks 30 years of constant dividend growth.
Shares jumped 3.7 per cent to 3,854p this morning
Strong demand for food products mean the bacon and sausage maker never needed to use the Government’s furlough or business support loan schemes, it said.
Cranswick said work is underway on new £25m breaded poultry facility in its home city of Hull which will be operational in 2023.
Cranswick is a major pork and protein supplier in the UK food industry, such as bacon for McDonal’d burgers.
On Brexit, the food group said “following extensive preparation and planning, disruption caused by the UK’s departure from the EU has been extremely limited”.