31 March 2012 – trading statement
Cranswick has stated that sales performance in the final quarter was pleasing and underlying like for like sales for the year to 31 March 2012 were up 10%. There were positive contributions from all product categories. The Group has invested over £20m in its infrastructure during the year, allowing it to improve operational efficiencies and to launch new product ranges. Although this has boosted volumes, operating margin has been impacted and this will, as expected, be below that achieved in the previous financial year.
The company’s 49% stake in Farmers Boy (Deeside) Limited has been sold to Morrisons and the proceeds will reduce net debt. The future looks bright for Cranswick and the shares are GOOD VALUE.