30th Nov 2015 07:35
LONDON (Alliance News) - FTSE 250-listed food company Cranswick PLC on Monday said its pretax profit ticked higher in the first half, held back slightly by an impairment charge, as revenue came in slightly ahead of its expectations.
The pork and poultry producer said its pretax profit for the six months to the end of September was GBP25.5 million, 3.0% higher than the GBP24.6 million it posted a year earlier and held back somewhat by a GBP4.6 million goodwill charge the company booked on its sandwiches business.
Revenue for the half was up 9.9% to GBP529.1 million, up from GBP481.5 million a year before, with underlying revenue, which strips out the contribution from the Benson Park poultry business it acquired in the half, along with revenue from pig breeding and rearing, rose 6.5%.
Cranswick said it will pay an interim dividend of 11.6 pence per share, up from 10.6p.
"The business performed strongly during the first half of the year and recorded revenue slightly ahead of the board's original expectations," said Chairman Martin Davey.
"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," Davey added.
By Sam Unsted; [email protected]; @SamUAtAlliance
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