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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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%.
BS
-
Sachin Dev Duggal's Builder.ai – the first big AI bustSachin Dev Duggal's Builder.ai start-up claimed it could use artificial intelligence to build apps. Its revenues turned out to be equally artificial
-
How Trump's dog deals will damage global trade with the USOpinion Some commentators are hailing Trump’s trading savvy. Are they right?
