Cranswick revenue rises despite tough environment

22nd Nov 2022 08:17

(Sharecast News) - UK food producer Cranswick said half-year profits fell, but posted a rise in sales as it worked to keep cost inflation under control.

Total revenue for the six months to September 24 rose 12.4% to £1.1bn. Adjusted pre-tax profits were £66m, down 3.4%.

"We have made further commercial and strategic progress in what continues to be a relentlessly challenging operating environment," the company said on Tuesday.

"We continue to invest to meet the needs of our customers, building our capacity and capability whilst driving efficiency across new and existing facilities."

"Our outlook for the current financial year is unchanged. Notwithstanding the many challenges that we, our industry and the wider economy face."

Reporting by Frank Prenesti for Sharecast.com