Cranswick Regulatory News (CWK)

30 Jul 2007 07:00

Cranswick PLC30 July 2007 Cranswick plc ("Cranswick" or "the Company") - first quarter trading statement The following statement on current trading will be made at the Company's AnnualGeneral Meeting later this morning: "The results for last financial year were very pleasing: • Turnover was up 19 per cent to £525 million. • Profit before taxation and exceptional gains rose 12 per cent to £32.4 million. • Earnings per share pre exceptional gains rose 5 per cent to 50.1 pence. • The dividend was raised 10 per cent to 18.1 pence per share. • Underlying cash generation continued to be strong. • DeliCo was acquired on 1 November 2006 and successfully integrated. The current financial year has started in a very positive way. Sales in the first quarter have increased by 25 per cent compared to the sameperiod last year to £151 million, continuing the strong growth trend of recentyears. Food sales showed an increase of 26 per cent of which 22 per cent reflectsorganic growth. All product categories delivered double digit growth. Asanticipated DeliCo is operating at a level significantly ahead of that at thetime of its acquisition in November 2006. Agri sales were 8 per cent up, despitethe sale of the animal feed business in the first quarter, reflecting anincrease in pig marketing. In the pet business sales were 10 per cent higher.Whilst individual product categories are subject to differing raw materialpricing dynamics the overall margin performance is in line with management'sexpectations. In May the Company purchased new freehold premises which are currently beingequipped to produce the Jack Scaife range of premium bacon to cope with theanticipated continued growth in that part of the business. The new facility isdue to be commissioned in the Autumn." Enquiries: Cranswick plcMartin Davey, Chairman 01482 372080 (mobile 07775 576426)John Lindop, Finance Director 01482 372090 (mobile 07768 362592) This information is provided by RNS The company news service from the London Stock Exchange