Updates

Cranswick - Sales ahead of expectations

November 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 lurched higher after pig meat processor Cranswick announced that its performance for the six months to 30 September were slightly ahead of expectations. Revenues were 10% ahead of the same period last year driven by strong volume growth across most categories and a first contribution from Benson Park. Underlying sales rose 7%.The major capital investment program at Benson Park remains on track while the next phase of development at its Norfolk primary processing facility (£6m investment) will begin in Q3. Net borrowings were below the previous quarter and comfortably lower than a year ago and with £120m headroom, more acquisitions are likely.Interims are due on 30 November and should be good. Tipped ...

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