|
Cranswick PLC on Tuesday said it expects full-year adjusted pretax profit to be towards the upper end of market expectations after ‘record’ Christmas trading. The Hull-based food producer reported continued positive momentum in the third quarter, the 13 weeks to December 27, with sales in all product categories ahead of last year. Cranwick noted record Christmas demand across Fresh Pork, Convenience and Gourmet festive product ranges. It said premium added-value ranges performed ‘particularly well’ including centre of plate products and festive grazing platters. For the financial year to March 28, the food producer now expects adjusted pretax profit to be at the upper end of the £211.3 million to £216.0 million market consensus range. It reported adjusted pretax profit of £197.9 million in financial 2025. Recent acquisitions Blakemans, JSR Genetics and the Fridaythorpe feed mill outperformed initial expectations, Cranswick said. Poultry revenue was ‘significantly ahead’ of last year, helped by higher fresh poultry prices, while Pet Products grew through its expanded partnership with Pets at Home Group PLC. Cranswick now expects financial 2026 capital expenditure of £160 million to £170 million, below prior guidance. Net debt increased in the quarter but the group said it remained with £360 million of committed facilities. Chief Executive Officer Adam Couch said: ‘We have delivered another strong quarter of growth underpinned by revenue growth across all product categories and a record Christmas trading period. ‘This excellent performance is the result of our unrelenting focus on delivering outstanding service levels, sector leading innovation and unrivalled product quality across our festive product range for our customers.’ Shares in Cranswick were up 1.0% at 5,200.00 pence on Tuesday morning in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
