Cranswick delivers positive full-year results
Meat products specialist Cranswick (LON:CWK) has reported that revenues for the year ended 31st March were up by 17.6% at £1,464.5 million, helped by a 30.2% surge in export sales. Statutory pre-tax profits also rose by 13.5% to £88.0 million.
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Chief Executive Adam Crouch commented that, ”over the last 12 months we have strengthened our asset base, enhanced market positions and developed new customer relationships. We continue to make good progress against each of our strategic objectives and we are well placed to continue our successful development in the current financial year and over the longer term”. Analysts from Numis said that they believed the company was well positioned to deliver future growth.
The final dividend will be increased by 24.5% to 38.6p, bringing the total dividend for the year to 53.7p. Shares in Cranswick were at 3,242p at 14:25 BST, up 78p over the open but down from higher levels reached this morning.
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