20th May 2025 08:58
(Alliance News) - Cranswick PLC on Tuesday reported an increase in annual profit and revenue, and said it has started the new year in line with expectations.
In the 52 weeks ended March 29, the Yorkshire, England-based food producer had a pretax profit of GBP181.6 million, up 15% from GBP158.4 million the previous year. Revenue increased 4.8% to a record GBP2.72 billion from GBP2.60 billion.
This was driven by strong underlying performances across its core categories and the outperformance of its premium added-value product ranges as well as "a record Christmas trading period".
Cranswick declared a final dividend of 76.0 pence per share, up 13% from 67.3 pence per share the prior year. Its full-year dividend totalled 101.0 pence per share, up 12% from 90.0 pence pence per share.
On Friday, the firm acquired sausage manufacturer James T Blakeman & Co Ltd for GBP32 million.
Looking forward, the company have said that it is in a "stronger position than ever" after making "significant strategic and financial progress delivering record revenue".
Chief Executive Officer Adam Couch said: "We have made a positive start to the new financial year with the UK consumer continuing to recognise the quality, value and versatility of our pork and poultry product ranges. Looking further ahead, I am confident that the strengths of the business which include its long-standing customer base, breadth and quality of products, robust financial position and industry leading asset infrastructure will support the successful development of Cranswick in the current financial year and over the longer-term."
Cranswick shares were up 1.7% to 5,350.00 pence in London on Tuesday morning.
By Olivia Mason-Myhill, Alliance News reporter
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