UK meat supplier Cranswick booked a 22% rise in half-year profits thanks to higher sales to domestic retailers and discounters in Europe.
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Cranswick reported pre-tax profit from continuing operations reached GBP21.3m (US$35.6m) in the six months to 30 September. Operating profit was up 14% at GBP22.4m.
Turnover from continuing operations climbed 19% to GBP355.6m as sales were boosted by April’s acquisition of pork processing business Bowes of Norfolk. Like-for-like sales rose 12%.
“It is pleasing to report that the trading momentum developed during the previous year continued into the first half of this year despite the difficult economic environment,” said chief executive Bernard Hoggarth.
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By GlobalData
