UK food producer Cranswick has posted a 27% increase in profits to around £130m during the latest financial year following 'exceptionally robust demand'.
The processor, which owns farms and supplies pork and chicken to retailers, saw strong revenue growth £1.9bn, up 13.9% or 12.1% like for like, in the year to 27 March 2021.
The Hull-based firm reported adjusted group operating profit saw a healthy increase from £102.3m in 2019/20 to £132.5m in 2020/21, a 26.1% rise.
Cranswick saw 'exceptionally robust demand' across all categories, reflecting the shift toward greater in-home consumption.
There was a 'strong contribution' from the firm's new Eye, Suffolk poultry facility during the period, which is seeing more investment to add further capacity and enhanced capability.
Meanwhile, a £20m investment in the company's new Hull cooked bacon facility is now 'fully operational'.
The processor also noted that the Brexit transition was 'successfully managed with minimal disruption'.
Adam Couch, Cranswick CEO said: “We have delivered strong growth and made further strategic progress in a year of unparalleled challenge and complexity.
"We have supported our customers by delivering excellent service levels to ensure full availability of our products both in store and through the fast growing online channel.
“Our outstanding performance would not have been possible without the incredible support of our colleagues across the business and I thank them for their continued commitment and dedication."
