Cranswick, the UK-based food manufacturer, saw its shares slide after issuing a warning on how a key margin metric could fare in the company’s upcoming financial year.
The meat products-to-sandwiches supplier said yesterday (7 February) its operating margin in its new financial year, which starts in April, “is likely to decline”.
Go deeper with GlobalData
Cranswick pointed to “the potentially challenging commercial landscape”, together with start-up and commissioning costs associated with a new poultry facility in eastern England.
Shares in Cranswick closed down more than 12% yesterday at GBP2,950 pence.
The warning came alongside a trading update for the third quarter of Cranswick’s current financial year.
Cranswick said “as expected” revenue fell 2% with “strong growth” in poultry and continental products offset by lower sales from other “pork-related” categories.
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.
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 GlobalDataThe company the UK pig price had “continued to ease” during the period, ending the quarter 7% lower than at the same
stage last year. The decline was “being reflected in selling prices”, the company added.
