Cranswick PLC hands staff second bonus as profits soar during lockdown

() said today it will pay its staff an extra bonus of £400 as thank you for working through the coronavirus pandemic.

The pork products specialist, which was forced to shut some of its plants last year when workers caught the virus, had already paid £500 to its factory workers and said this extra payment was in recognition of the contribution during the pandemic.

Demand for sausages and bacon has boomed during lockdowns, which was reflected in the FTSE 250’s group full-year results.

Revenue rose by 13.9% to £1.9bn in the year to end March 2021, while underlying profits jumped by 27% to £129.7mln. The dividend for the year rises by 15.9% to 70p.

Adam Couch, chief executive, said “We have delivered strong growth and made further strategic progress in a year of unparalleled challenge and complexity. 

“We have made a very positive start to the new financial year and, whilst there is still a degree of uncertainty about how the future will unfold.”

The shares were up 5% in morning trading to 3,910.49p, though still a way off last August’s all-time high above 4,100p.