Cranswick Sales Up 31 Percent, John Terry Also Scores
Hull-based pork specialist Cranswick say that Q3 sales (to Dec 31st 2009) were up 31% to GBP200 million, although that includes the contribution from CCF Norfolk which was newly acquired in June 2009.
Fresh pork sales were up 70% year-on-year and bacon sales up 61% whilst operating margin "was maintained at a level similar to that achieved in the first half of the year", it says.
Talking of pork, are Talk Sport messing about when one phone-in pundit this morning says of John Terry: "leave him alone, he scored at the weekend, some of the papers are saying he should fall on his sword, but I don't agree."
Cranswick Announces H1 Results
Premium sausages are proving lucrative for food manufacturer Cranswick, which released its interim results today saying turnover from continuing operations was up 19% at GBP355.6 million, while pre-tax profits were up 22% to GBP21.3 million.
Cranswick Bringing Home The Bacon
Hull-based pork specialist Cranswick say that first half sales rose by 19%, buoyed by the group’s acquisition of pork farmer Bowes of Norfolk earlier this year.
The group cited the continuing popularity of pork over other types of meat as like-for-like sales rose by 12%, producing a 15% rise in profits for the six months to October.
I reckon my own personal bacon consumption alone accounts for around half of that.
Detailed interim figures will be released on November 16.
Cranswick Sales Up
Cranswick, the Hull-based food manufacturer, reported that sales increased by 11% in the first quarter today.
The firm, which recently had its £17.2m acquisition of rival Norfolk-based sausage manufacturer Bowes given the go ahead, said that significant increases in sales had been seen in sausages and bacon. (I'm doing my best to help them on that front, with Mrs Nogger a slave to the frying pan most mornings. She's no stranger to the odd sausage herself, but I digress).
The group said takings hit £167m for the April-to-June period. Shares leapt above 630p in early trade, but have settled back to 611p, up 7.5p.
Cranswick To Sell Petfood Operation
Just a couple of weeks after after saying that full-year figures would beat forecasts, Yorkshire-based food producer Cranswick announced it had agreed to buy competitor Bowes of Norfolk Ltd., from the Bowes family for GBP 17.2 million cash.
Today, it has recouped virtually all that money back in one fell swoop by announcing the sale of its petfood side in a management buy-out.
Cranswick Pet Products (CPP) and Tropical Marine Centre (TMC) will be sold for GBP 17 million to a consortium of the management teams of each, headed by TMC MD Derek Black, whilst it will retain a 5.5% share in the business, say Cranswick.
Cranswick Buy Bowes
A week after saying that full-year figures would beat forecasts, Yorkshire-based food producer Cranswick says it has bought Bowes of Norfolk Ltd., from the Bowes family for GBP 17.2 million cash.
The deal, which is expected to be complete within around 10 weeks - subject to regulatory approval, will give Cranswick an estimated 15-20% of the UK pork market. This will make Cranswick the country’s biggest British-owned producer of pig meat.
It is understood that, once the deal is completed, the pig-rearing arm of the Bowes business will be sold back to a management buy-out team.
Sainsbury's account for around a third of Cranswick's turnover, the purchase of Bowes potentially provides a useful foot in the door with Tesco, who account for more than half of Bowes' annual sales.
