Cranswick drives efficiencies even as capacity expands

What stands out in Cranswick’s (CWK) preliminary results for FY2024 is that the food producer has kept a tight rein on working capital commitments during a period of rapid expansion – no mean feat given the capacity build over recent years. This involves several new sites in Yorkshire and North Lincolnshire, together with a feed mill, which have expanded the scale and quality of the group’s pig herds. Consequently, self-sufficiency in UK pigs now exceeds 50 per cent. It has invested £17.1mn throughout the year to boost capacity, as part of an overall £112mn allocation earmarked for its pork primary processing and value-added poultry sites in Kingston-upon-Hull, together with a houmous facility at Worsley, Manchester. Direct access to feed milling processes has helped to ensure security of supply, while driving enhanced returns.