Yorkshire-based agribusiness, food and petfood group Cranswick plc at Driffield has produced what the chairman, Jim Bloom, describes as "a sparkling set of results" including a record 25 per cent increase in profits, before taxation, from £4 million to £5 million.

Turnover during the year ended March 31, 1998, was £148.2 million compared to £157.6 million previously. The fall is attributable to lower selling prices following a reduction in raw material costs in the group's principal markets.

The group, which has agricultural interests in pig production, compound pig diets, baby pig diets, marketing of finished pigs, cooked meat production, pre-packed pork cuts and gourmet sausages, is proposing a final dividend of 8.25p (net) per ordinary share. Together with an interim dividend of 3.5p paid in January the annual total is 11.5p, an increase of 13 per cent on the last financial year (10.2p).

Pig feed and pig marketing produced good results, says chief executive Martin Davey (turnover £85.8 million; £94.3 million in 1997).

Feed volumes were up more than ten per cent including further growth in the sales of creep diets. The number of pigs traded also increased. investment has been made to expand production of pig feed boosting it by 30 per cent by the installation of a new pelleting line.

Cranswick Country Foods, the food manufacturing activity, increased pork processing by 14 per cent and expanded production of retail packs, sausages and hams. A £2.5 million investment in the group's Lancashire cooked-meats production plant has doubled its capacity.

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