Cranswick - Powering through
Cranswick’s FY20 results demonstrate its strength and agility and current trading confirms the company is well positioned despite the uncertainty posed by the COVID-19 pandemic and Brexit. Revenues were up 13.0% on a like-for-like basis, mainly driven by better price/mix, but with underlying volumes up 3.4%. Adjusted PBT was up 11.2% on the prior year and EPS up 8.4%. Net debt was £146.9m at year end, including IFRS 16 liabilities of £65.9m. The start to FY21 has been positive and hence the outlook 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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