Cranswick gets a new boss as profit goes up
BRITISH pork products supplier Cranswick yesterday reported a three per cent rise in full-year profit.
The British company also announced that chief executive Bernard Hoggarth would step down at the company’s annual general meeting on 1 August.
Hoggarth will take up a part-time role as commercial director while the company added that his stepping down had been pre-planned. He will be replaced as chief executive by chief operating officer Adam Couch.
Pre-tax profit for the year to the end of March rose to £48.4m from £47.1m a year ago.
Revenue was up eight per cent to £821m with underlying sales surging by 10 per cent.
The company, whose brands include Jamie Oliver and Weight Watchers, hiked its final dividend to 19.5p a share.
Cranswick, which processes and supplies pork products, said that record Christmas sales and production had lifted it.
Meanwhile booming sales in the Far East had also contributed to the profits rise.