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Cranswick - Shares soar over Â£16 for first time

July 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.

The shares went above £16 for the first time after meat processor Cranswick released finals slightly ahead of expectations. Revenues rose 1% to just over £1bn but stripping out lower pig prices underlying volume growth was 3%. An improvement in operating margin from 5.4% to 5.8% lifted pretax profit 10.6% to almost £58m, while eps rose 10% to 92.1p. Net debt lifted only £0.3m to £17.3m (net debt/ EBITDA: just 0.2x) in spite of acquiring Benson Park, a producer of premium cooked poultry for an initial £17.7m and £21m capital investment, which funded additional capacity (including extension of Milton Keynes cooked meats facility), the upgrade of equipment, improved operational efficiencies and new ...

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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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