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Cranswick profits up by £2.9m

PORK and pies producer Cranswick has reported a £2.9 million rise in profits in the year to March 31, from £49.1m to £52.2m.

The company said the horsemeat scandal had encouraged consumers to buy UK-reared pork which had helped push up revenues by around 14 per cent to £994.9m in the 12 months to the end of March.

Cranwick, which supplies Marks & Spencer, Tesco, and Morrisons, said it expected its sales growth to continue in the current financial year although margins remained under pressure.

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