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Equity Bottom-Up

<p>Cranswick’s FY20 results demonstrate its strength and agility and current trading confirms the company is well positioned despite the uncertainty posed by the COVID-19 pandemic and Brexit. Revenues were up 13.0% on a like-for-like basis, mainly driven by better price/mix, but with underlying volumes up 3.4%. Adjusted PBT was up 11.2% on the prior year and EPS up 8.4%. Net debt was £146.9m at year end, including IFRS 16 liabilities of £65.9m. The start to FY21 has been positive and hence the outlook remains unchanged. </p>

Cranswick’s FY20 results demonstrate its strength and agility and current trading confirms the company is well positioned despite the uncertainty posed by the COVID-19 pandemic and Brexit. Revenues were up 13.0% on a like-for-like basis, mainly driven by better price/mix, but with underlying volumes up 3.4%. Adjusted PBT was up 11.2% on the prior year and EPS up 8.4%. Net debt was £146.9m at year end, including IFRS 16 liabilities of £65.9m. The start to FY21 has been positive and hence the outlook remains unchanged. 

<p>Cranswick has witnessed a tougher start to the year, with more uncertain market conditions and softer pricing in key export markets. Capital investment behind the business continues apace, with the move to the new Continental Products facility during the period, and the construction of a new state-of-the-art poultry processing facility well underway.</p>

Cranswick has witnessed a tougher start to the year, with more uncertain market conditions and softer pricing in key export markets. Capital investment behind the business continues apace, with the move to the new Continental Products facility during the period, and the construction of a new state-of-the-art poultry processing facility well underway.

Cranswick - Softer H1 but fundamentals remain solid

United Kingdom

Cranswick plc manufactures and supplies food products to grocery retailers in the United Kingdom and the food service sector.  The Company supplies fresh pork, gourmet sausages, charcuterie, cooked meats, sandwiches, and dry cured bacon.

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Cranswick PLC (CWK LN)

Cranswick - Powering through

Cranswick’s FY20 results demonstrate its strength and agility and current trading confirms the company is well positioned despite the uncertainty...

Edison Investment Research

Cranswick - Softer H1 but fundamentals remain solid

Cranswick has witnessed a tougher start to the year, with more uncertain market conditions and softer pricing in key export markets. Capital...

Edison Investment Research

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