Cranswick Regulatory News (CWK)

31 Jul 2006 07:01

Cranswick PLC31 July 2006 Cranswick plc - first quarter trading update The following statement will be made by Chairman Martin Davey at the Company'sAnnual General Meeting later this morning: "The results for last financial year were pleasing given the number ofchallenges we faced: • Turnover was up 38 per cent to £441 million • Profit before taxation rose 44 per cent to £31.1 million after exceptionals • Earnings per share rose 33 per cent to 51.2 pence after exceptionals • The dividend was raised 14 per cent to 16.5 pence per share • Cash generation continued to be strong • Our pig herd and the surplus Cottingham site were disposed of • Perkins Chilled Foods, acquired in January 2005, performed excellently The current financial year has started well. Sales in the first quarterincreased by 12 per cent to £120 million compared with the same period lastyear. Food sales showed an increase of 12 per cent to £113 million, with freshpork, sausages and bacon showing particularly strong growth. The performance ofthe pet products business showed an improvement over the first quarter lastyear. We have been successful in gaining new business in the food activities and areconfident of achieving further gains. We look to the future with optimism." Enquiries: Martin Davey 07775 576426John Lindop 07768 362592 This information is provided by RNS The company news service from the London Stock Exchange