Cranswick Ride High In the Recession
Hull based company Cranswick, who supply fresh Pork and premium sausages to the UK’s food retail sector, are thriving in the recession as sales continue to soar. The Company has found that increased demand from European discounters and grocery retailers has led to an increase in revenue of nearly 20%.
As sales and revenue have continued to rise, the company has seen profits from the six months prior to October rise to £21.3 million, an increase of 22% in comparison to the same period last year. The company have also managed to reduce their net debt by over £5 million pounds, enabling them to maintain a sound cash flow.
Cranswick have reported that they continue to remain optimistic about their future, and have recently decided to specialize in the food market. Demand in this sector has continued to increase as customers change their eating habits from dining out to eating at home as a result of the recession.