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Increased poultry sales drive Cranswick revenue growth

breaded poultry product

CRANSWICK has reported strong revenue growth in its first financial quarter that it says was driven by increased sales from its new Eye poultry facility.

Across the group in the 13 weeks to 26 June, revenue was 9.6% ahead of the same period last year, and volumes grew 7.7%.

See also: Poultrymeat output on the up after higher chick placings

A planned capacity increase at the Eye processing plant from 1.1 million birds a week to 1.4 million/week was also completed over the period.

Cranswick also said work on a new premium breaded poultry facility in Hull was ‘progressing well’, with an incremental investment of £5m, including a third production line, taking the total build cost to £30m.

A £20m cooked bacon facility in Hull was also progressing well, the trading update said.

‘Positive start’

Adam Couch, CEO of Cranswick, said: “We have made a positive start to the year. Our capital investment programme remains firmly on track as we build the platform to deliver our long-term growth strategy.

“We continue to make meaningful progress in delivering our Group-wide ‘Second Nature’ sustainability strategy.

“We also continue to support our customers by delivering excellent service levels to ensure full availability of our products.

“The professionalism and commitment of our colleagues across the business is the foundation on which our successful performance is based and as always I would like to thank them for their continued dedication and support.”