- Today's Hot Chat Topics
- Member Benefits
- Manage your personalised Watchlist.
- Set up an online Virtual Portfolio.
- Participate in Share Chat.
- See more trades and director dealings.
- Play the Fantasy Share Trading Game.
Share:
HomeShare PricesStock PickerFinancial DiaryUK IndicesUK Industry SectorsCompany LookupShare RisersShare FallersBroker RatingsFinance GlossarySMS ServicesShare ChatFinance NewsBlogsLive PricesShares BookshopFinance ToolsMembers
Latest Share Chat
Cranswick Share News (CWK)
Share News for Cranswick (CWK)
| Share Price: 1,145.00 | Bid: 1,145.00 | Ask: 1,150.00 | Change: 0.00 (0.00%) |  | ||||||
| ||||||||||
Cranswick posts record FY earnings, sells pig feed business UPDATE
Mon, 21st May 2007 07:50
(updates with details of sale of pig feed business)
LONDON (Thomson Financial) - Cranswick
Pretax profit before exceptional gains for the year to end-March increased 12 pct to 32.4 mln stg, from 29 mln stg the previous year. Sales rose by 19 pct to 525 mln stg, from 441 mln stg the year before.
Chairman Martin Davey said underlying sales growth was particularly strong resulting in an increase in market share, which was further enhanced by Cranswick's acquisition of DeliCo last November.
He said the company has seen strong sales increases across most food categories as it positioned itself in a number of growing, premium areas of the market.
Cranswick's other activity, which is involved in the pet and aquatic sector, saw a marginal reduction in sales reflecting higher aquatic sales but a decline in bird food.
Davey said the company anticipates further sales increases over the next year, adding that the current year has 'commenced in an encouraging manner'.
Meanwhile, Cranswick announced the sale of the feed milling business, its original activity, saying the trading environment has been 'particularly challenging' in recent years following the substantial reduction in the UK pig herd.
The sale will result in a cash inflow and reduction in working capital of about 7 mln stg.
The board is proposing a 10 pct increase in the final dividend to 12.2 pence per share. That makes a total dividend of 18.1 pence, also up 10 pct.
Cranswick was formed by farmers in the early 1970s to make pig feed.
However, in the late 1990s, it embarked on a strategy to broaden its activities, seeking opportunities in related markets. It is now focused predominantly on the supply of premium food products.
matthew.scuffham@thomson.com
msc/am
COPYRIGHT
Copyright AFX News Limited 2007. All rights reserved.
The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
(updates with details of sale of pig feed business)
LONDON (Thomson Financial) - Cranswick
PLC, the Yorkshire-based food producer, reported a record set of full-year results, and announced the sale of its pig feed business.
Pretax profit before exceptional gains for the year to end-March increased 12 pct to 32.4 mln stg, from 29 mln stg the previous year. Sales rose by 19 pct to 525 mln stg, from 441 mln stg the year before.
Chairman Martin Davey said underlying sales growth was particularly strong resulting in an increase in market share, which was further enhanced by Cranswick's acquisition of DeliCo last November.
He said the company has seen strong sales increases across most food categories as it positioned itself in a number of growing, premium areas of the market.
Cranswick's other activity, which is involved in the pet and aquatic sector, saw a marginal reduction in sales reflecting higher aquatic sales but a decline in bird food.
Davey said the company anticipates further sales increases over the next year, adding that the current year has 'commenced in an encouraging manner'.
Meanwhile, Cranswick announced the sale of the feed milling business, its original activity, saying the trading environment has been 'particularly challenging' in recent years following the substantial reduction in the UK pig herd.
The sale will result in a cash inflow and reduction in working capital of about 7 mln stg.
The board is proposing a 10 pct increase in the final dividend to 12.2 pence per share. That makes a total dividend of 18.1 pence, also up 10 pct.
Cranswick was formed by farmers in the early 1970s to make pig feed.
However, in the late 1990s, it embarked on a strategy to broaden its activities, seeking opportunities in related markets. It is now focused predominantly on the supply of premium food products.
matthew.scuffham@thomson.com
msc/am
COPYRIGHT
Copyright AFX News Limited 2007. All rights reserved.
The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
Pork processor Cranswick's third-quarter revenue rises 7 pct
Jan 31 (Reuters) - British pork processor Cranswick Plc reported a 7 percent rise in underlying revenue for the third quarter despite record pig pric[31 Jan '13]
RESEARCH ALERT-Cranswick: N+1 Singer raises to buy
Jan 28 (Reuters) - Cranswick PLC: * N+1 singer raises to buy from hold; price target to 1061p from 778p For a summary of rating actio[28 Jan '13]
RESEARCH ALERT-Cranswick: Numis raises target price
Nov 28 (Reuters) - Cranswick: * Numis raises target price to 875p from 838p; rating add For a summary of rating actions and price tar[28 Nov '12]
RESEARCH ALERT-Cranswick : Panmure cuts target price
Nov 19 (Reuters) - Cranswick PLC: * Panmure cuts target price to 800p from 875p; rating hold For a summary of rating actions and pric[19 Nov '12]
RESEARCH ALERT-Cranswick: Numis raises to add from hold
Oct 30 (Reuters) - Cranswick PLC: * Numis raises to add from hold For a summary of rating actions and price target changes on Europea[30 Oct '12]
RESEARCH ALERT-N+1 singer cuts Cranswick target price
Oct 8 (Reuters) - Cranswick PLC: * N+1 singer cuts Cranswick target price to 778p from 902p; rating hold For a summary of rating actions an[8 Oct '12]
RESEARCH ALERT-Numis cuts Cranswick to hold
Aug 1 (Reuters) - Cranswick PLC: * Numis cuts Cranswick to hold from add For a summary of rating actions and price target changes[1 Aug '12]
RESEARCH ALERT-N+1 Brewin cuts Cranswick to hold
Aug 1 (Reuters) - Cranswick PLC: * N+1 Brewin cuts Cranswick to hold from add For a summary of rating actions and price target ch[1 Aug '12]
