UK food producer Cranswick has posted a near 12% increase in revenue to £2.6 billion, according to the firm's latest financial report.
The Hull-based processor, which owns farms and supplies pork and chicken to retailers, has posted its financial results for the year ending 30 March 2024.
Adjusted profit before tax was £176.6m, up 26.1% from £140.1m a year before, the company said today (21 May).
It has also seen a positive contribution from rapidly expanding pig farming operations, with self-sufficiency in pigs now at 50%.
This has been complemented by the £32.8 million acquisition of the Elsham Linc indoor pig farming business.
There was also a £13.3m acquisition of Froch Foods, adding further cooked meat and bacon processing capacity.
Responding, Adam Couch, Cranswick’s CEO, said the successful performance was due to the "substantial investment we have put into enhancing our farming infrastructure and expanding our vertical integration".
“Our ongoing successful performance is down to the unwavering passion, commitment, and professionalism of our teams across the business," Mr Couch said.
"We have increased the size, scale and quality of our pig herds through ongoing organic growth and the acquisitions of new indoor and premium outdoor pigs."
He added: “Over the last 12 months we have strengthened our asset base, substantially expanded our farming operations, enhanced market positions and developed new customer relationships.
"We continue to make good progress against each of our strategic objectives and we are well placed to continue our successful development in the current financial year and over the longer term.”
