Search

Watton pork producer Cranswick sees first quarter revenues grow by more than a quarter

PUBLISHED: 11:45 24 July 2017 | UPDATED: 12:14 24 July 2017

On the production line at Cranswick's plant in Watton. Picture: Matthew Usher.

On the production line at Cranswick's plant in Watton. Picture: Matthew Usher.

© Archant Norfolk 2012

Food producer Cranswick says it has made a “positive start” to the financial year.

A trading update from the EDP/EADT Top 100 company, which has processing plants in Watton and Weybread, near Diss, showed revenue was up 27% year-on-year in the three months to June 30.

Like-for-like revenues – excluding contributions from recently-acquired companies Ballymena and Weybread-based Crown Chicken – also rose by 21% compared to the same period last year, underpinned by strong domestic growth.

After the release of its full-year results in May, chief executive Adam Couch confirmed the group will be investing in its East Anglian processing facilities in 2017/18 as part of a £70m capital expenditure plan.

In Monday’s trading update, a group spokesman said it was “investing heavily across its asset base to add capacity and capability” and affirmed the board’s confidence in the outlook for the current financial year.

Most Read

Latest from the Watton and Swaffham Times

Hot Jobs

Show Job Lists