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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Cranswick - Recovery of operating margins

January 2015

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • CWK
  • Price:
  • 1358p
Shares in meat processing firm Cranswick hit an all-time high of 1492p after news of an acquisition and strong interims. The latter showed revenues down slightly to £481.5m (H1’13: £483.5m) but pretax profit rose 11% to £25.8m and eps increased 7% to 41.1p. The improved profitability reflects 0.55% recovery in operating margin to 5.4%, helped by efficiencies and more stable pig prices compared to last year when they were rising rapidly.On a category basis fresh pork sales (40% 2013 turnover) were down 13% year on year reflecting temporary loss of sales, which is now being recovered. Sausage (10% turnover) sales were slightly ahead, driven by growth in the premium tier while bacon (8% turnover) rose 3% mainly ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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