Cranswick says trading on a streak

Bacon and sausage supplier Cranswick enjoyed a sizzling end to its financial year, with a positive contribution from all product categories.

The group said it was pleased with trading in the three months to the end of March which will leave underlying like-for-like sales up 10% in the full year numbers, due for release on May 21.

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Cranswick is also selling its 49% stake in Farmers Boy to Morrisons for £6.2m; that money plus strong cash generation will probably lead to net debt coming in below the previous full year figure.

Cranswick shares have had an up and down year, falling 23% between March and September 2011 but then making a strong recovery. So far in 2012 the stock has gained 9.9%.

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