Cranswick Regulatory News (CWK)

7 Apr 2008 07:00

Cranswick PLC07 April 2008 Cranswick plc ("Cranswick" or "the Company") - fourth quarter trading update Cranswick anticipates that the Company's performance for the full year to 31March 2008 will be in line with market expectations. The Company is achievingprice increases in the primary processing part of the business as supplytightens and anticipates similar success in further product processing to offsetincreasing raw material costs resulting from global commodity price rises andthe strong euro. Total sales for the year were 21 per cent higher than the previous year on alike-for-like basis with food sales 20 per cent higher and pet sales 28 per centhigher. In the fourth quarter sales of food products increased by 20 per cent and allproduct categories showed double digit growth. During the quarter the productionof premium bacon was successfully consolidated into the new factory at Sherburn.Turnover in the pet division, which accounted for 8 per cent of total Companysales in the quarter, was up by 44 per cent due to a combination of volume gainsand input cost recovery in the pet food business. Total sales in the quarterwere up by 19 per cent on a like-for-like basis. With strong market positions, well invested plants, and the progress being madeon input cost recovery, the Company is well placed to continue its successfuldevelopment. It is intended that the preliminary results for the year ended 31 March 2008will be announced on 19 May 2008. Enquiries: Paul Quade 07947 186694CityRoad Communications 020 7248 8010 This information is provided by RNS The company news service from the London Stock Exchange