Cranswick - Another strong performance
Cranswick’s H121 results underscore the company’s strength and broad-based positive momentum. Revenues were up an impressive 17% on a like-for-like basis, adjusted operating profit was up 31% to £62m with margins up +50bp, and adjusted EPS was up 30% to 93p, with reported EPS up 12%. The interim dividend was up 12% to 18.7p, and net debt (excluding IFRS 16 lease liabilities) was £54.6m. Cranswick has made a strong start to the year. Management is understandably cautious given uncertainty surrounding both the pandemic and Brexit, but the outlook for the current year remains unchanged.Cranswick is a supplier of food products. Co. engaged in the manufacturing and supplying of food products to U.K. grocery retailers, the food service sector and other U.K. and global food producers. Co. produces a range of products including fresh pork, convenience, gourmet products and poultry. Co.'s products include: Fresh & Added Value Pork; Traditional Air-Dried Bacon & Gammon; Sausages & Burgers; Handmade Pastry; Cooked Meats; Continental Products; Fresh Chicken; and Premium Cooked Poultry. As of Mar 31 2017, Co. had 15 manufacturing locations in the U.K.
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