Cranswick FH Profits Up

Premium pork supplier and pet food maker Cranswick Plc on Monday beat analyst expectations with a 5 percent increase in first-half profit and said it believes cost pressures have peaked.

The company said profit before tax rose 5 percent to 18.5 million pounds ($27.39 million).

Sales increased 9 percent to 321.2 million pounds to the period ending 30 September as the company increased the range of products it supplies across all segments, from premium to value.

"Whilst enormous cost pressures have been experienced, and dealt with, over the past year the signs are that this inflationary element has peaked," said Martin Davey, Cranswick chairman, in a statement.