Cranswick bringing home the bacon

13th Jul 2009 07:24

Sausages and pork products supplier Cranswick has made a positive start to its new financial year, with first quarter sales up across most parts of the business.Sales in the first quarter, excluding recently disposed of and acquired businesses, rose 11% to £167m from the first quarter of last year.Growth has been particularly strong in the sausages and bacon parts of the business, while growth was also seen in continental and charcuterie products, fresh pork and cooked meats. On the down side, sales of sandwiches continued to decline, as per the trend in the second half of the last financial year. However, the company said “the signs are for a reversal of this later in the year.”Raw material prices continue to rise, and the company continues to protect its margins by improving efficiency and through discussions with customers.Net debt at the end of Jun fell to £64m. Cash generation remains strong, and the board remains confident of the group’s future prospects.