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