|  Updated: 

Meat producer Cranswick’s profits sizzle thanks to at-home cooking

By:

Add as a preferred source on Google
The UK has today agreed a three month grace period for the export of chilled meats to Northern Ireland with the EU as the two sides reached a truce in the so-called "sausage war".
Great British sausages will be allowed into Northern Ireland for an extra three months due to the extension.

Cranswick’s first-half profits were up 31 per cent today as stuck-at-home consumers bought more of its pork and chicken products. 

Cranswick, which owns farms and supplies pork and chicken to British supermarkets, reported adjusted group operating profit of £62m for the six months ended September 26, compared with £47.4m a year ago.

The firm supplied sandwiches and sausage rolls to front line NHS staff during the pandemic. Total revenue rose 21 per cent in the reported period to £931.6m

It also increased its interim dividend for the year ending March 27, 2021 by 12 per cent to 18.7 pence per share. Total revenue at the firm rose 21% in the reported period to £931.6m. 

The company noted that although it has made a strong start to the year, it remained cautious about the long-term economic impact of the Covid-19 pandemic and continued uncertainties surrounding the ongoing Brexit negotiations.

It said: “The continued uncertainty over the nature of the UK’s departure from the EU and whether a Free Trade Agreement will or will not be achieved drives the risk of volatility within the group’s supply chains and uncertainty within the group’s customer base.”