Cranswick Strengthens Asset Base
Cranswick, the UK pigmeat, cooked meats and sandwiches producer, continues to invest in strengthening its asset base. The company has acquired the premises of one of its cooked meats facilities at Wombwell, near Barnsley, for £7.3m.
Cranswick has also now completed a new abattoir at its primary pork processing site and the extension to the Lazenby’s sausage facility, both in Hull. Commissioning work is continuing at the meat group’s air-dried bacon facility at Sherburn-in-Elmet, near Leeds. These facilities provide Cranswick with substantial additional capacity and the potential to deliver ongoing efficiency improvements.
During its third quarter to 31st December 2010 Cranswick has continued the positive trading performance seen in the first half of its financial year. Underlying like-for-like sales increased by 5% during the quarter, showing a slight increase on the rate of growth seen in the first half of the year. Volumes were ahead by 10% on the same basis. Overall operating margin was in line with management’s expectations.
