Eating in at home during lockdown boosts sales for food firm
PUBLISHED: 05:00 20 August 2020
People eating at home more during lockdown resulted in a spike in sales by almost 20pc for a Norfolk food firm.
Cranswick Country Foods, which has a base in Watton and a poultry facility in Eye, Suffolk, saw revenue to June 27 19.2pc higher than the same time last year.
It issued a statement with its results, saying: “Trading in the first quarter of the financial year has been strong.
“As a result of the current shift towards greater in-home consumption, retail demand has been exceptionally robust. This, together with increased poultry sales from the new Eye facility, which continues to perform strongly and the benefit from new contract wins, have all comfortably offset lower food service revenue.”
Cranswick invested £78m in its poultry processing facility at Eye last year.
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Adam Couch, chief executive of Cranswick, said: “We have made a strong start to the year. While we remain cautious about the longer-term economic impact of Covid-19 and the uncertainty surrounding the ongoing Brexit negotiations we are well positioned to address these challenges.”
The firm is forecasting sales to normalise over the rest of the year as people gradually return to eating out of home again.
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