Cranswick backs full-year outlook as interim profit, revenue rise
Food producer Cranswick Plc backed its full-year outlook on Tuesday as it reported a jump in interim profit, with revenue growth across all categories.
In the 26 weeks to 27 September, adjusted pre-tax profit rose 9.7% to £105.1m on revenue of £1.5bn, up 10.4% on the same period a year ago.
Adjusted operating profit was up 13.5% to £113m and the interim dividend per share was lifted to 27p from 25p.
Cranswick hailed revenue growth across all categories, underpinned by 7% volume growth in UK the food business.
Revenue from the poultry segment - which now represents 20.9% of group revenue - was ahead 18.5%, reflecting new business wins.
Revenue from gourmet products was up 15.9%, with a strong contribution from Blakemans, while pet products saw a 13.6% increase in revenue after the company expanded its relationship with Pets at Home.
Cranswick said trading was strong with "robust" demand across all product categories.
"Consumers continue to appreciate the relative affordability, versatility and quality of our core pork and poultry products," it said, adding that premium added-value ranges performed particularly well, supported by a strong barbecue season.
The food producer said its outlook for the current financial year ending 28 March 2026 remains in line with the board's expectations.
Chief executive Adam Couch said: "Our positive start to the year continued through the second quarter, with strong volume-led revenue growth across all product categories driven by new business wins, a positive contribution from recent acquisitions, strengthened alignment to our key, long-standing retail partners and our unrelenting focus on quality, service and innovation across our premium added-value product ranges.
"Demand for our core pork and poultry categories remains robust, underpinned by their relative affordability and consumer preference for natural protein as part of a healthy, balanced diet. We are well placed to maintain the positive momentum generated during the period into the second half of the financial year as we build towards our peak Christmas trading period."
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