UK food producer Cranswick has seen a boost to profits and an increase to its pig herd in the first half of the current financial year.
The Hull-based processor, which owns farms and supplies pork and chicken to retailers, has posted its financial results for the six months to 28 September.
They show a 6.1% increase in revenue to £1.33 billion, with adjusted group operating profit up 16.5% to £99.6m.
Fresh pork revenue was up 2.8% year-on-year, representing 24.5% of group revenue, the company said.
Growth reflected strong volume-driven retail and wholesale demand, but this was offset by a 7.1% dip in export sales revenues.
Lower pricing from China and other Far Eastern markets outweighed positive volume growth, according to Cranswick.
It also pointed to the acquisition of a 4,000-sow, previously contracted outdoor unit in East Anglia in the summer.
At the same time, the firm has established six new herds over the period from its existing farm business.
As it continues to build its pig herd, it has increased its finished pig numbers by 18% compared with the same period last year to 34,000 pigs a week.
Cranswick, now the country’s largest pig producer, is "well over 50%" self-sufficient in pigs relative to its processing capacity, which it continues to invest in.
Cranswick’s chief executive officer, Adam Couch said: “We now have almost 900,000 pigs on the ground at any time, which are reared across a mixture of premium outdoor and high-quality indoor units.
“We will continue to invest in our pig farming operations to ensure that we can supply the right quality and quantity of pigs to meet the need of our strategic retail customers.”
