Hull’s Cranswick sees poultry surge 35%

Hull-based meat processing giant Cranswick on Thursday held a site visit for analysts and institutional investors at the company’s fresh poultry site in Eye, Suffolk.

Cranswick said poultry represented 19% of group revenue for the six months ended 25 September 2021, up 35.5%, with strong growth in both fresh and cooked poultry. 

“Average volumes at the Eye facility are currently running at approximately 1.4m birds per week, up from 1.1m a year earlier,” said the Hull company.

“Over the last eight years, the group has invested over £220m in its poultry operations and developed a unique, fully vertically integrated supply chain.

“Further growth opportunities exist.”

Cranswick employs 13,000 people.

For the 52 weeks ended March 27, 2021, Cranswick reported revenue up 13.9% to £1.9 billion and statutory profit before tax up 10.4% at £114.8 million — and a full year dividend that was up 15.9% to 70p as the firm achieved 31 years of unbroken dividend growth.