Cranswick has announced its preliminary half year results for the 26 weeks ending 25 September 2021, which show strong like-for-like revenue growth of 6.4%, driven partly by a significant uplift in poultry sales.
The company has recently completed an expansion project at its new poultry processing facility at Eye in Suffolk.
The firm also announced its planned new £31m breaded poultry facility on track for completion in early 2023.
Total revenue in the six months was £993.1m, 6.6% higher than the £931.6m reported in the corresponding period last year. Adjusted profit before tax for the period at £68.3m was 12.5% higher than the £60.7m in the corresponding period last year.
“We have made further positive and sustainable progress during the first half of the year, delivering revenue and earnings growth in an incredibly challenging operating environment,” said chief executive Adam Couch.
“We continue to invest in the long-term sustainability of our business. We have made excellent headway in delivering our Second Nature sustainability strategy with several major milestones reached during the period. These include achieving carbon neutral status across all 14 of our eligible manufacturing facilities and committing to purchasing 100% deforestation-free soya which we expect will result in a c.20% reduction in carbon compared to the previous system.
“Our outlook for the current year is unchanged and we have a solid platform from which to continue Cranswick’s
successful long-term development.”