Hull’s biggest company, Cranswick Plc, has become a £2 billion turnover business.
Sales have surpassed the huge milestone for the meat giant, founded almost half a century ago by East Yorkshire farmers.
Now a FTSE-listed darling of the British food industry, revenues were up 5.8 per cent on the year to March 26, taking it from £1.898 billion to £2.008 billion.
Read more: Cranswick well placed in turn-to proteins to help feed families in cost of living crisis - CEO
Operating profit was also up 6.1 per cent from £132.5 million to £140.6 million.
Impressively, in the current circumstances with raging inflation, margins were also maintained - albeit hitting the very end of the period under review.
Adam Couch, Cranswick chief executive, said: “In a year which has been unprecedented in terms of the scale and breadth of challenges we have faced, we have delivered our strategy at pace and our long-term growth plan remains firmly on track.
“We have worked tirelessly to support our customers while continuing to prioritise the safety and wellbeing of our colleagues across the business. We have consistently delivered exemplary service levels to our customers, supported our local communities and made great strides toward delivering many of our Second Nature sustainability targets.
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“It is at times like this that partnerships and cooperation come to the fore, and I would like to thank our stakeholders and all our colleagues for their ongoing support, resilience and understanding during this very demanding period."
Having experienced incredible growth through the coronavirus pandemic as eating from home was enforced and then habits maintained, the business has also branched out, winning major poultry contracts while diversifying into non-meat areas and the pet food sector in a run of acquisitions.
In a statement delivered with the results to the City, Mr Couch said: "Trading in the new financial year has been in line with the board’s expectations. Notwithstanding the challenging operating conditions we continue to experience, our outlook for the group for the current year is unchanged. We have a solid platform from which to continue Cranswick’s successful long-term development.”
Cranswick has seen a significant uplift in poultry sales in the year in focus, while the £26 million Hull cooked bacon facility, serving McDonald's, is "performing to plan".
The £32 million breaded poultry facility has also been successfully commissioned since the year end, with £93.7 million invested across the asset base - with all 14 eligible manufacturing sites now certified as carbon neutral.
Amid what it describes as "unprecedented industry-wide labour and supply chain challenges" the company is also making offers of employment and pulling together resettlement packages for those impacted by the Russian invasion of Ukraine.
Mr Couch added: "The terrible events in Ukraine continue to profoundly impact our sector both at a humanitarian and an economic level. We are proactively supporting colleagues whose families may be affected by the conflict, including making donations, offers of employment and resettlement packages."
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