Cranswick plc Announces Sales Results for the Fourth Quarter and Full Year Ended March 31, 2016; Provides Earnings Guidance for the Full Year Ended March 31, 2016
April 05, 2016 at 07:00 am
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Cranswick plc announced sales results for the fourth quarter and full year ended March 31, 2016. Continued positive trading during the final quarter of the financial year resulted in total full year sales volumes being 12% higher than the previous year. Export sales grew strongly in the final quarter, maintaining the positive momentum seen in the previous nine months and reflecting the ongoing robust demand for pork products in Far Eastern markets.
Full year underlying sales volumes increased by 10%, with corresponding revenues ahead by 5%, as the Group's customers and UK consumers continued to benefit from lower pork prices.
The company provided earnings guidance for the full year ended March 31, 2016. The board continues to expect to report a trading performance for the year ended March 31, 2016 in line with its expectations. With experienced management at all levels of the Group, a strong range of products, a well-invested asset base and a robust financial position, the board remains confident in the continued long-term success and development of the business.
Cranswick plc is a United Kingdom-based food producer company, which is engaged in manufacturing and supplying food products to United Kingdom grocery retailers, the food service sector and other United Kingdom and global food producers. It offers various products, such as fresh pork, fresh chicken, coated chicken, ready-to-eat chicken, gourmet sausage, gourmet bacon and gammon, gourmet pastry, cooked meats, charcuterie, olives and antipasti, ambient Mediterranean, and houmous and dips. Its brands include Bodega, Cypressa and Ramona. The Bodega brand provides snacks and sharing boxes, which are available in Italian, German and Spanish flavors. The Cypressa offers olives, antipasti, olive oils and vinegars, cheese, tahini, nuts, seeds and dried fruits; cereals and pulses; snacks and sweets; and wrap kits. The Ramona brand's products include houmous, falafel, dips and burgers. It also produces pet food and supplies a number of brands, including its own brands, Vitalin and Alpha Feeds.
Cranswick plc Announces Sales Results for the Fourth Quarter and Full Year Ended March 31, 2016; Provides Earnings Guidance for the Full Year Ended March 31, 2016