Chairman's AGM Statement

CRANSWICK PLC
26 July 1999


CRANSWICK PLC ANNUAL GENERAL MEETING:
CHAIRMAN'S STATEMENT


At today's (Monday) Annual General Meeting of Cranswick plc, 
Chairman Mr Jim Bloom said:  'The Board's strategy for the 
development of Cranswick since 1988 has been to develop a 
broad business base with interests in the pet, agribusiness 
and food sectors.  Development has been by way of organic 
growth and acquisitions, the most recent of which was 
Mr Lazenby's.  Lazenby's has fitted into Cranswick 
particularly well and has continued to grow.  We are 
determined to continue Cranswick's successful development 
and the uninterrupted growth in profits which has been a 
feature of the business since implementing the strategy in 
1988 and to continue to look for earnings enhancing 
acquisition opportunities.
 
'The last financial year was particularly successful:

* Profit before taxation rose 40 per cent to £7 million, 
the highest yet achieved by the Company.

* Earnings per share increased 38 per cent to a record 34 pence.

* The dividend was raised to 13.5 pence per share.

* Borrowings were reduced to £6.3 million, 35 per cent of 
  shareholders' funds, notwithstanding the purchase of 
  Mr Lazenby's. These excellent results are a tribute to 
  all at Cranswick.

'The current financial year has started well with profits in 
the first quarter ahead of budget.

* Sales in the pet business are up on last year. Increased 
  sales of aquatic products at Tropical Marine has been encouraging 
  as has also the growth in small animal food at Buckton's.

* In agribusiness the amount of pig feed sold by Cranswick 
  Mill is ahead of last year, which is particularly pleasing 
  given the reduction in the UK pig herd.

* The food manufacturing business has seen a significant 
  increase in the amount of premium hams and sausages sold this 
  year by Cranswick Country Foods. This has been further boosted 
  by the sales of sausages from Lazenby's, acquired in November 
  1998, which are also ahead, year on year.

'I would like to say that it was pleasing to be highlighted, 
in a recent survey covering quoted companies in the food and 
beverage industry, as the outstanding company for delivering 
shareholder value. Over the 5 years to March 1999 £100 invested 
in Cranswick would now be worth £277, a return of 22.6 per cent 
per annum. Over ten years the return is similar at 22.4 per cent 
per annum. The return from the FTSE All Share Index over the 
same period was approximately two thirds of that achieved by 
Cranswick.'


For further information, please contact:
Jim Bloom, Chairman, or Martin Davey, Chief Executive 
on Tel: [phone]