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Cranswick PLC reported a strong first half on Tuesday, posting double-digit revenue and profit growth, and said its full-year outlook remains in line with expectations. The Hull-based food producer said pretax profit rose 21% to £109.2 million in the 26 weeks to September 27, up from £90.2 million a year earlier. Basic earnings per share increased to 150.2 pence, up 21% from 124.0p. Revenue climbed 10% year-on-year to £1.47 billion from £1.33 billion, driven by 7% volume growth in its UK food business. Poultry revenue rose 19%, Gourmet Products grew 16% and Pet Products advanced 14%. Cranswick declared an interim dividend of 27.0p per share, up 8% from 25.0p a year ago. Net debt before leases increased to £127.3 million from just £900,000 a year earlier, reflecting record capital expenditure of £89 million, the acquisition of sausage-maker Blakemans and stock build ahead of peak Christmas trading. Chief Executive Officer Adam Couch said demand for pork and poultry ‘remains robust’, supported by affordability and consumer preference for natural proteins. ‘The positive trading momentum generated during the first half of the year has continued into the third quarter as we build towards our peak Christmas trading period,’ the company said. Cranswick reaffirmed that its full-year outlook to March 2026 is unchanged. Shares in the company were 3.5% higher at 5,170.00 in London on Tuesday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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