Member Article

Hull’s Cranswick plc reports dip in pretax profit

Hull-based food producer Cranswick plc has reported a slight dip in revenue and pretax profit for their half year results.

For the six months ended September 30, revenue dipped from £483 million to £481 million.

Profit before tax decreased from £26 million to £24 million, partially due to increased tax responsibilities and lower sales in pork and pork products.

Martin Davey, Cranswick’s chairman commented: “It is pleasing to report to Shareholders that adjusted profit before tax for the six months increased 11.4 per cent to £25.8 million from £23.2 million in the corresponding period last year.

“Subsequent to the period end, the Company acquired Benson Park Limited, a Hull based, leading producer of premium British cooked poultry which serves the fast growing food to go sector.

“This is an important acquisition for Cranswick in meeting the Company’s stated strategic aim of broadening both the protein range and the customer base of the business.

“With experienced management at all levels of the Group, a strong and continually evolving range of products along with a robust financial position the Board remains confident in the continued long term success and development of the business.”

This was posted in Bdaily's Members' News section by Clare Burnett .