Investors lose appetite after Cranswick margin warning

Shares in FTSE 250 food producer Cranswick (LON:CWK) dropped by 10.88% to 2,461.66p (as of 14:15) after the company warned that margins would decline in future. Management said that the commercial environment was challenging and that start-up and commissioning costs for its new facilities would eat into profitability during the coming financial year.

Meanwhile, revenues fell by 2% for the three months ended 31st December as the price and demand for pork products softened. This was partially offset by the poultry market.