Cranswick revenues increase 5% in first quarter

Cranswick plc has revealed that revenues were 5% higher in the first quarter of its 2014/15 financial year (April 1, 2014 to July 27, 2014) compare to the same period last year. 

In its quarterly report, the Cranswick board said the figures reflected continued growth across most product categories, and that operating margin in the first quarter was similar to that achieved in the previous financial year as a whole.

Net debt at the company stood at £33 million at June 30, which was £22 million less than the same point last year but £16 million more than March 31 this year. The increase was due to a normal seasonal uplift in working capital and an on-going capital investment programme that includes an extension to the Delico cooked meats facility at Milton Keynes and a major upgrade to the chilling system at Cranswick’s Norfolk abattoir.

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