9th Apr 2015 06:40
LONDON (Alliance News) - Cranswick PLC Thursday said it finished its recent financial year with a "strong final quarter" as sales grew, and said it expects its full-year results to be in line with expectations.
The food producer reported a 1% rise in underlying sales for its fourth quarter for the year ended March 31 as a lower input prices were passed onto customers, and it said its full-year underlying sales were in line with the year before. Total sales were up 4% for the fourth quarter and 1% for the full year, it said.
The group invested GBP25 million in its infrastructure during the year, including an extension to the Milton Keynes cooked meats facility and an upgrade to the chilling system at the Norfolk primary processing facility, which it said is delivering further efficiency benefits.
It also said the integration of Benson Park is "progressing as anticipated" and the major investment programme at the site is expected to be commissioned in the autumn.
"The board expects to report a trading performance for the year ended 31 March 2015 in line with its expectations. 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," the company said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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