AGM Statement

Cranswick PLC
28 July 2003

Cranswick plc - 2003 AGM Trading Statement 28 July 2003


The following statement will be made by Jim Bloom, Cranswick's Chairman, at this
morning's Annual General Meeting:

'The current financial year has started satisfactorily with first quarter
results in line with management's expectations.

At the time of the 2003 preliminary results announcement in May reference was
made to the challenging trading environment, in particular margin pressure in
the food business and the difficulties in agribusiness with the further decline
in the UK pig herd. This continues to be the case, although some modest price
increases have been obtained on food products.

Overall group sales increased by 4% compared with the same quarter last year. We
have seen significantly higher internal sales in the period in both our food
business and our agribusiness. Consequently, whilst total food sales on a
like-for-like basis showed an increase of 11%, external sales grew more modestly
at 6%, and whilst total agribusiness sales fell by 16%, external sales fell by
33%. The pet business enjoyed a successful first quarter with sales increasing
by 34%.

The sandwich businesses, North Wales Foods, acquired in October 2002, and The
Sandwich Factory, acquired in May 2003, have integrated well and have had a
positive impact on earnings in the quarter.

Payment has been made to pig suppliers in respect of the previous underpayments
and is within the provision set aside at the year-end.

Cashflow continues to be strong and the borrowings incurred to finance the
acquisition of The Sandwich Factory will fall during the remainder of the year
in line with expectations.'

For further information contact:
Martin Davey, Chief Executive                           Office 01377 270649
                                                        Mobile [phone]

John Lindop, Finance Director                           Office 01377 270649
                                                        Mobile [phone]


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