Advertisement

Fatter profits at Cranswick as pork demand grows

Bacon and sausage supplier Cranswick reported a robust set of annual results, as pork consumption in the UK continues to grow, and said it is well placed for future growth.

Bacon and sausage supplier Cranswick reported a robust set of annual results, as pork consumption in the UK continues to grow, and said it is well placed for future growth.

Adjusted pre-tax profit rose 8% to £49.3m for the year ended March 31st 2013 while reported revenues for the year climbed 7% to £875m.

Advertisement - Article continues below

Adjusted earnings per share increased 8% to 78.9p while net debt reduced to £20.1m from £21.7m in 2012.

Cranswick has been in the news recently after its acquisition of supplier and pig breeder East Anglian Pigs. The deal further shortens its supply chain and boosts its reputation as a premium, increased pig welfare firm.

While shoppers are increasingly opting for relatively lower priced pork, the recent fallout from the horsemeat crisis has also boosted demand for Cranswick's product.

Cranswick said the East Anglian Pigs deal demonstrates an on-going commitment to, and greater control over, a robust and integrated supply chain with a clear focus on premium, British ingredients.

It will also give UK consumers further assurance as to the provenance and quality of its products, it added.

The board is proposing to increase the final dividend to 20.6p per share, an increase of 5.6% on last year.

Cranswick noted: "Recent issues in the integrity of the supply chain for meat products and the introduction in 2013 of higher welfare standards for pig production in the EU enhance the competitive position of UK based pork processors."

"The company's well invested asset base, providing efficient means of production and headroom for future growth, along with an experienced management team and a robust balance sheet should enable it to capitalise on opportunities that arise."

CJ

Advertisement
Advertisement

Recommended

Visit/investments/investment-strategy/601044/broker-safety-your-questions-answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Visit/investments/investment-strategy/600861/how-demographics-affects-stock-valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Visit/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Visit/investments/stockmarkets/600634/why-investors-should-be-cautiously-bullish-for-2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Visit/investments/property/601606/house-prices-crash-uk-property-prices-falling-where-next
Property

House price crash: UK property prices are falling – so where next?

With UK property prices falling for the first time in eight years, are we about to see a house price crash? John Stepek looks at what’s behind the sli…
2 Jul 2020
Visit/investments/stockmarkets/601611/nasdaq-all-time-high-markets-and-the-real-economy
Stockmarkets

How can markets hit new record highs when the economy is in such a mess?

Despite the world being in the midst of a global pandemic, America's Nasdaq stock index just hit an all-time high. And it's not the only index on a bu…
3 Jul 2020
Visit/economy/inflation/601584/the-end-of-the-bond-bull-market-and-the-return-of-inflation
Inflation

The end of the bond bull market and the return of inflation

Central bank stimulus, surging post-lockdown demand and the end of the 40-year bond bull market. It all points to inflation, says John Stepek. Here’s …
30 Jun 2020