Cranswick sees results at upper end

30th Mar 2010 07:51

Sausages, bacon and pork maker Cranswick expects its full-year trading performance to be towards the upper end of market forecasts.Total sales for the year were 22% higher than last time, excluding sales from the pet business which was sold in April 2009. The increase reflects organic growth of 11% and a further contribution of 11% from CCF Norfolk which was acquired in June 2009.In the fourth quarter, excluding sales from the pet business, revenues increased by 18% compared to the same period last year, of which 14% was attributable to CCF Norfolk. During the period a higher proportion of fresh pork sales were made internally and there was a small reduction in sales of continental products. All other categories delivered the strong growth seen in the first nine months of the year, with bacon sales increasing by 70% and sales of fresh pork, reflecting the contribution from CCF Norfolk, 45% higher. Sandwich sales were ahead by 18% and sales of cooked meat and sausages were ahead by 8% and 6% respectively."With strong market positions, a broadening customer base and well invested plants, the company is well placed to continue its successful development," the group said.