Norfolk operation helps Cranswick post 19 per cent sales rise
The Hull-based company, which supplies fresh pork and gourmet sausages to Britain's food retailing and manufacturing sectors, said it started the current financial year in line with its expectations.
"Whilst there was a reduction in sales of continental products, there were substantial gains in fresh pork, bacon and sandwiches and continued growth in cooked meats and sausages," the company said in a statement.
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Hide AdFor the three months ended June 30, total sales came in at 198 million, excluding revenue from the pet business, which was sold in April 2009.
The increase in sales reflects organic growth of 6 percent, and 13 percent from CCF Norfolk which it acquired in June 2009, Cranswick said.
The company's net debt at end-June stood at 54 million, which was lower than the year-end levels and down 16 percent from a year ago.
Cranswick shares closed at 860 pence on Monday on the London Stock Exchange.