UK meat heavyweight Cranswick has lifted its medium-term margin outlook on the back of “robust demand”.
The London Stock Exchange-listed business, which supplies the UK’s major supermarket groups, made the announcement today (20 March) to coincide with a capital markets day for analysts and institutional investors.
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Cranswick, based in Hull in north-east England, has set an adjusted operating margin target of around 7.5%, increasing from previous guidance of over 6%.
The company, 50 years old this year, also set out a target for mid-single digit organic revenue growth, while maintaining mid-single digit adjusted earnings per share growth.
“Robust demand for our core pork and poultry products has continued through the fourth quarter,” the company said in the announcement.
CEO Adam Couch, CEO of Cranswick, said: “We are announcing today more ambitious medium-term financial targets, reflecting the significant
strategic progress we have made since first introducing these measures.
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By GlobalData“Our relentless focus on the strengths of the business, which include industry leading investment, a clearly defined strategy, broadening product portfolio and unrivalled management team, will continue to support the future successful development of Cranswick over the long term.”
Cranswick, which owns brands sincluding Ramona’s houmous and Bodega charcuterie and also produces pet food, will release its annual results on 20 May.
