UK pork processor Cranwick eyes share of American market
Cranswick, a major supplier of pork to supermarkets Tesco and Sainsbury's in the United Kingdom, has won USDA approval to export to the United States, the UK newspaper Express & Star reports.
Cranswick, supplier of pork products for the Jamie Oliver brand as well, received the thumbs-up to supply to the country with fresh pork produced near Hull, UK.
This facility re-opened early this year after a £13 million (€14.9 million) revamp which took three years to complete. The development came as the company reported an 8% rise in pre-tax profits to £47.1 million (€53.9 million) in the year which ended March 31.
Cranswick, which was started by farmers in the early 1970s to produce pig feed, said fresh pork sales surged 17% by value, while bacon was up 17%, sausage sales grew by 7% and sandwiches increased 13%.
The company said its move into pastry, in particular sausage rolls, under the Yorkshire Baker brand, had been successful. It expects the new initiative will lead to the development of a full range of pastry products.
But the East Yorkshire-based group became the latest business to warn against rising input costs and weaker consumer spending power as it said the year to 2012 would be tougher.
Chairman Martin Davey said: "The difficulties facing the UK consumer, along with rising raw material prices and the dynamics of the competitive market in which the company operates suggest that the year to March 31 2012 may be more demanding than usual."
• United States Department of Agriculture (USDA)
• Express & Star
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