Cranswick cheers with 44% rise in pre tax profits
Cranswick, the pork specialist, delighted the market with a 44% rise in pre-tax profits to £31.1m in the year to March 2006.
Cranswick, the pork specialist, delighted the market with a 44% rise in pre-tax profits to £31.1m in the year to March 2006 on sales up 38% to £441m despite the fresh pork market growing by a mere 2% last year.
House broker, Investec Securities, is now looking for another boost in earnings per share for 2007 to 48.2p against 45.4p. Cranswick makes gourmet sausages for a number of food retailers including Sainsbury's under its Taste the Difference brand. Sales have also been boosted by the astute purchase of Perkins Foods, the cold meat specialist, which has now been fully integrated into Cranswick's business. Sales of animal feed have also improved.
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