Jan 31 British pork processor Cranswick Plc
reported a 7 percent rise in underlying revenue for the
third quarter despite record pig prices in UK.
Cranswick processes and supplies fresh pork, sausage, bacon,
cooked meats, charcuterie, pastry products and sandwiches to
The company, whose supermarket customers include J Sainsbury
and Tesco Plc, said input costs rose during
the quarter ended Dec. 31, with UK pig prices reaching a record
level in December.
Though margins were initially impacted, successful pricing
discussions with customers helped partially mitigate the full
impact, the company said.
The company had warned in October that pig prices in the
United Kingdom had touched a three-year high and were expected
to continue rising, driven by high livestock feed prices and
implementation of animal welfare norms in Europe.
The company, which supplies to brands such as Weight
Watchers and celebrity chef Jamie Oliver's food products
range, said total sales rose 8 percent, including a contribution
from Kingston Foods, which Cranswick acquired in June.
Shares in the company closed at 938 pence on the London
Stock Exchange on Wednesday. They have risen about 22 percent
over the past year.