Cranswick sales continue to increase

Cranswick plc has revealed a 5% increase in revenues for the firm’s third quarter, driven by a strong Christmas trading period.

In a statement issued for the three months ending December 31, 2015, the company said sales volumes were up by 11%.

Underlying revenue (which excludes the company’s Benson Park poultry business and its pig breeeding, rearing and trading activities) was 4% higher than the same period last year, with corresponding volumes up 10%. 

Once again Cranswick reported the mismatch was due to passing the benefit of falling input prices to the group’s customers.

Export sales also grew strongly, with volumes shipped to the Far East 28% ahead of the same quarter last year.

The trading announcement resulted in a 7.25% increase in Cranswick’s share price on January 28, with the stock closing at £20.81. As recently as August 24 last year, the shares could have been bought for £15.36.

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