31st Jan 2005 07:00
Cranswick PLC31 January 2005 Cranswick plc - third quarter trading statement Trading in the third quarter to the end of December has been in line withmanagement's expectations. Overall group sales increased by 8 per cent compared with the same period lastyear. Sales of food products showed an increase of 17 per cent with fresh pork,charcuterie and sandwiches showing particularly strong growth. Animal feed saleswere significantly down following the rationalization of milling capacityundertaken earlier in the year. This rationalization together with the return tomore normal levels of raw material prices has been a key factor in returningthis part of the business to profitability. Total pet sales were stand-onreflecting the capacity constraints we were operating under in the two old petfood facilities. Perkins Chilled Foods, which was acquired for £80.6m in January 2005, isintegrating well. We have almost completed a major capital expenditure and factory rationalisationprogramme that has involved the construction of four new facilities at a cost of£20m and the closure of two sausage factories, two pet food facilities and onefeed mill and will provide extra capacity as well as bring improved operationalefficiencies. The closure costs and profits/losses on the disposal of surplusproperties will be treated as exceptional items as they arise. Enquiries:Martin Davey - chairman )) 01377 270649 (to 1.00pm)John Lindop - finance director) This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Cranswick