Party food may see a record Christmas for CranswickComments Off on Party food may see a record Christmas for Cranswick
Shares in the pig-rearing specialist soared more than 5% to 1405p after a better-than-expected half year as margins improved and profits jumped 11% to £25.8 million.
Investors were also cheered by the prospects of its new chicken business – it bought supplier Benson Park in October.
Cranswick chief executive Adam Couch said the deal has made it a major “protein player” and allows the company to broaden its customer base.
Sales dipped 0.4% to £481.5 million in the six months to the end of September but it reduced debt and raised its dividend by 6% to 10.6p.
The company recently won new customers which it expects will boost sales over the Christmas period.