Cranswick saw its share price climb this morning (20 May) as the UK pork group reported a “pleasing” set of annual results.

Adjusted pre-tax profit was up 8% to GBP49.3m (US$74.9m) in the 12 months to the end of March. Taking into account a property impairment charge of GBP1.8m, reported pre-tax profit dropped 2% to GBP47.4m. Operating profit amounted to GBP48.2m, up 15.3% from GBP41.8m reported last year.

Revenues climbed 7% to GBP875m. Underlying sales, which exclude the contribution from Kingston Foods, a business Cranswick acquired last year, were up 5%.

Cranswick chairman Martin Davey said it had been a “positive” year for Cranswick, that further progress was achieved in trading and investment was made for this progress to continue over the longer term.

He added: “The company’s well invested asset base, providing efficient means of production and headroom for future growth, along with an experienced management team and a robust balance sheet should enable it to capitalise on opportunities that arise.”

Cranswick’s share price was up 1.53% to 1103.60 pence at 11:09 BST.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.