Cranswick sees Q4 sales increase

Pork processor Cranswick has seen a sales increase in the fourth quarter of the year as a result of lower input prices being passed on to customers.

In an interim trading statement the group said organic sales growth for the period 1 January to 31 March broadly in-line with expectations at +1%, whilst including the acquired Benson Park business sales are reported up by 4%.

"The board expects to report a trading performance for the year ended 31 March 2015 in line with its expectations. With experienced management at all levels of the group, a strong range of products, a well-invested asset base and a robust financial position, the board remains confident in the continued long-term success and development of the business," Cranswick said in a statement.

Darren Shirley, analyst at Shore Capital said: "Cranswick’s Q4 delivery represents a solid improvement on the Q3 performance and we leave our profit expectations unchanged, looking for FY2015 CPTP of GBP56.4m (US$83.8m), EPS of 90.5p, with sales forecast to exceed GBP1bn for the first time."

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