Danish Crown recorded an operating profit of DKK 2.18bn (€293m) for the 2021/22 financial year, marginally lower than the previous year’s DKK 2.26bn (€303m).

This was on revenue of DKK 64.2bn (€7.6bn), a 10% increase on the previous year, which leaves an operating profit margin of 3.4%. Danish Crown is a farmer-owned co-op and DKK 1.7bn (€228m) will be returned to farmer shareholders by way of supplementary payments on cattle and pigs supplied to Danish Crown processing factories. The company highlighted the impact of rising energy, transport and packing costs as major contributors to the DKK 1.5bn (€202m) increase in company costs for the year.

The beef division was a strong performer for the first half of 2022, according to the company statement, with revenue increasing to DKK 6bn (€806m), a 28% increase on the previous year. This is a key export market for the company, which also announced the building of a £100m (€116m) bacon and gammon factory in Manchester, which will be operational in late 2023.