By Daniel Hunter
Cranswick have had their bacon saved as strong sales of premium sausages, bacon, cooked meat, pastry, charcuterie and sandwiches have helped offset a 13 per cent first-half decline in fresh pork revenue.
"Cranswick's first half sales performance was a tale of two quarters, with the first quarter sales up 5% followed by a 5% decline through the second quarter," said house broker Shore Capital.
"Management has again reiterated the temporary nature of the sales slowdown, with the lost Fresh pork volumes now returning to the Cranswick fold."
Meanwhile, export sales (excluding Europe) surged by nearly a quarter, as demand in China continued to grow and Cranswick gained new customers in West Africa and Australia.
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