Cranswick trading in line
Chief Executive Officer Bernard Hoggarth is signing off on a bright note at food producer Cranswick, which has made a solid start to its new financial year.
Chief Executive Officer Bernard Hoggarth is signing off on a bright note at food producer Cranswick, which has made a solid start to its new financial year.
Trading since April 1st has been in line with expectations, with all product categories delivering robust growth , especially sausage, bacon and continental products.
Sales for the three months to 30th June increased by 7.4% versus the second quarter of last year to £209m.
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
There were further modest increases in pig prices during the reporting period, though they remain below the peak of last summer. The impact has been absorbed through increased volumes and continued operating efficiencies, the group said.
Net debt at the end of June stood at £38m, up from £22m three months earlier. The increase reflects a seasonal uplift in working capital and cash spent on the acquisition of Kingston Foods. Net debt was, however, well below the £55m at the end of June 2011.
"With experienced management at all levels of the group, a strong range of products, a well invested asset base and a robust financial position, the board, whilst mindful of the continuing challenges facing the UK consumer, remains confident in the continued long term success and development of the business," the group's interim management statement concluded.
Adam Couch will take over as Chief Executive Officer at August 1st's annual general meeting, succeeding Bernard Hoggarth, who will stay on as Commercial Director on a part-time basis.
JH
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Will “Liberation Day” strike again?
Donald Trump’s 90-day tariff pause comes to an end on 9 July. Can we expect further market turmoil?
-
Israel claims victory in the '12-day war' with Iran
Donald Trump may have announced a ceasefire in the 12-day war between Israel and Iran, but what comes next depends on what happens internally in Iran