Cranswick PLC (LON:CWK) has witnessed a tougher start to the year, with more uncertain market conditions and softer pricing in key export markets. Capital investment behind the business continues apace, with the move to the new Continental Products facility during the period, and the construction of a new state-of-the-art poultry processing facility well underway.
Premium and convenience skew is helpful
Cranswick’s product offering is skewed towards the premium end of the market, which continues to witness stronger growth. Convenience is also increasingly important, with ease of preparation the main attribute consumers look for. Cranswick’s exposure to multiple channels continues to serve it well, with customers spanning from the supermarkets to Quick Service Restaurants. This allows the company to spot emerging consumer trends more rapidly and use this information to make innovation more pertinent in the retail business, which still accounts for over 70% of revenue. The company is investing in its facilities to remain relevant and also to ensure it is a price setter by offering superior products to its customers. State-of-the-art facilities help in this regard as they deliver both flexibility and lower cost.
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