Hull-based meat processing giant Cranswick plc said its total revenue for the 52 weeks to March 29, 2025, was a record £2.723 billion, an increase of 6.8% from the prior year on a comparable 52 week basis.
Cranswick said adjusted profit before tax for the period at £197.9 million was 14.3% higher than the prior year on a comparable 52 week basis. Statutory profit before tax rose 14.6% to £181.6 million.
Total dividend for the year will be £1.01 per share, an increase of 12.2%, extending the period of consecutive years of dividend growth to 35 years.
On strategic highlights, Cranswick said: “Long-term supply agreements with strategic retail partners secured and expanded, including 10 years sole supply of British fresh pork, sausage, premium bacon and cooked meats with Sainsbury’s.
“£24m acquisition of JSR Genetics completed, a leading UK based pig genetics producer.
“£32m acquisition of Blakemans, a leading food service sausage manufacturer, completed on 16 May 2025.
“Investment in pig farming operations continues at pace, driving a 14% year-on-year increase in pig production.
“Now almost 1m pigs on the ground at any time, 19% up on March 2024.
“Investment in farming operations to secure supply and drive productivity improvements.
“Record capital spend of £138m with significant progress on pipeline of earnings enhancing major capital projects …”
On May 12, shares of Cranswick fell as much as 8% after some UK supermarkets suspended supplies from one of its farms that has been linked to allegations of abuse against pigs. The UK’s Press Association reported that covert footage emerged over that appeared to show workers at Northmoor Farm in Lincolnshire abusing piglets.
Addressing the issue, Cranswick said: “We know that our customers and consumers care deeply about the welfare of animals involved in food production – it is a priority we share. We have always placed the highest importance on animal health and wellbeing and continuously aim to have the most stringent standards in the sector.
“We take seriously any instance, anywhere in our supply chain, where behaviour fails to meet those standards. We are therefore instigating a new, fully independent, expert veterinarian review of all our existing animal welfare policies, together with a comprehensive review of our livestock operations across the UK. We will provide a further update on this work in due course.”
Cranswick CEO Adam Couch said: “This year we have made significant strategic and financial progress delivering record revenue and adjusted profit before tax.
“We have also continued to make substantial investment across our industry leading asset base, our farming operations and in acquisitions to support our long-term growth ambitions.
“We are accelerating the pace at which we invest to drive strong returns. This year we spent a record £138 million across our business to add capacity, expand capability and drive further efficiencies through automation and scale.
“I am delighted to announce the acquisition of Blakemans, a well‐invested, leading food service sausage manufacturer. Blakemans is highly complementary to our existing added-value Gourmet business. We look forward to welcoming the entire Blakemans team to Cranswick and to working with them to develop the business further.
“I would like to thank everyone at Cranswick for their unwavering dedication and support. Our continued successful performance in challenging market conditions reflects the talent, capability and determination of our colleagues across the business. The culture we have fostered, centred around a clear ambition to deliver strong sustainable growth, will continue to be the key driver of our success over the long-term.
“We have made a positive start to the new financial year with the UK consumer continuing to recognise the quality, value and versatility of our pork and poultry product ranges.
“Looking further ahead, I am confident that the strengths of the business which include its long-standing customer base, breadth and quality of products, robust financial position and industry leading asset infrastructure will support the successful development of Cranswick in the current financial year and over the longer-term.”