Cranswick PLC to expand into poultry business with US$25M investment

UK – Cranswick PLC, a major food producer in the United Kingdom, has announced a US$25 million investment aimed at increasing its poultry production capacity. 

This expansion forms part of the company’s broader strategy to grow its poultry meat operations.

In a report detailing unaudited results for the first half of the current fiscal year, CEO Adam Crouch outlined Cranswick’s focus on developing a vertically integrated poultry business. 

The new investment will enhance processing capabilities at its fresh poultry facilities in eastern England and contribute to ongoing projects at two additional sites in East Yorkshire.

The company also reported progress in its pig farming division, acquiring another farm and achieving organic growth. 

These efforts have positioned Cranswick as the leading pig farming business in the U.K., with a production increase of 18% compared to the same period last year. 

The company now processes 34,000 pigs weekly, meeting over half of its pork supply needs.

This comes as Cranswick reported strong financial results for the 26 weeks ending September 28, 2024. 

Revenue for the period reached US$1.66 billion, a 6.1% increase from the previous year, or 5.8% on a comparable basis. 

Adjusted operating profit rose 16.5% year-on-year to US$124 million, with the operating margin increasing from 6.8% to 7.5%.

Overall, operating profit and profit before tax grew by 3.5% and 3.8%, respectively, during the reporting period.

The company’s core food business saw a 6.4% revenue increase, driven by a 7% rise in volume. 

Revenue from poultry operations rose more than 16% compared to the previous year, while its pet food segment experienced over 71% growth.

Crouch described the company’s first-half performance as marked by volume growth and market share gains, attributing the success to strong customer relationships and consistent service quality.

Sign up HERE to receive our email newsletters with the latest news and insights from Africa and around the world, and follow us on our WhatsApp channel for updates.