Cranswick buys Yorkshire pig farm
The acquired businesses 'process' around 2,600 pigs per week
Company
LON:CWK
Cranswick PLC is a United Kingdom-based company. The activities of the company include the supply of fresh pork, gourmet sausages, charcuterie, cooked meats, sandwiches and traditional dry cured bacon.
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The acquired businesses 'process' around 2,600 pigs per week
The company's fortunes had been boosted by African Swine Flu, which has increased demand for its uninfected pigs in the Far East
Cranswick has been working with Packington for 14 years, but will now take on its pig farming operations across Staffordshire, Nottinghamshire and Lincolnshire
Cranswick also announced that it has bought Katsouris Brothers, a Mediterranean food products business, for £43.5mln.
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Following February’s warning about tough market conditions in the new financial year, recent trading was said to have been "as anticipated"
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The UK's premier shares index closed up around ten points at 7,320
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Cranswick blamed the “potentially challenging commercial landscape” and build costs at its new £54mln poultry plant in Eye for the expected decline in profitability
The broker said while the next 12 months could bring “some challenging UK trading conditions”, it expected “some offset from higher export profits"
In the six months to September 30, group operating pretax profit fell to £42.6mln from £44.5mln a year ago
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The day ahead includes full year results from Topps Tiles and Pets at Home along with interims from Quiz and Pennon
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The FTSE 250 meat products supplier said in a first-quarter trading update that revenue in the three months had increased 3.2% on the same period a year ago
Expansion of poultry production facilities is expected to drive strong sustainable growth for food producer, Cranswick, allowing the company to build on its solid half year 2017 result.
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London's FTSE 100 closed the day sharply higher, up over 1% to 7,460
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