Shares in UK meat processor Cranswick jumped by more than 4% this morning (30 March) after the company predicted annual sales would be ahead of expectations.
The sausage and bacon maker said fourth-quarter sales climbed 11% with pork sales up 23% and continental sales rising 22%.
The company’s robust fourth-quarter showing meant it could predict a 10% rise in annual sales on a like-for-like basis.
“With strong market positions, new bank facilities and well invested plants, the company is well placed to continue its successful development,” Cranswick said.
The company’s shares were up 4.1% at 567p at 09:21 this morning. Cranswick is scheduled to issue its full-year results on 18 May.
Meanwhile, Cranswick said finance director John Lindop would retire from the business at the end of May. Financial controller Mark Bottomley will take the role.