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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Cranswick plc    CWK   GB0002318888

CRANSWICK PLC

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Cranswick's profit jumps on stay-at-home consumption boost, raises interim dividend

11/24/2020 | 03:15am EST

(Reuters) - Cranswick Plc posted a 31% jump in first-half profit on Tuesday as stuck-at-home consumers bought more of its pork and chicken products, encouraging the meat processor to increase its interim dividend.

Grocery retailers, having seen a severe slump in their food-to-go (parcel and takeaway) sector during the coronavirus-induced lockdowns, are now starting to see across the board recovery in demand, especially with the retail sector picking up in recent months.

The UK-based company noted that although it has made a strong start to the year, it remained cautious about the long-term economic impact of the COVID-19 pandemic and continued uncertainties surrounding the ongoing Brexit negotiations.

"The continued uncertainty over the nature of the UK's departure from the EU (European Union) and whether a Free Trade Agreement will or will not be achieved drives the risk of volatility within the Group's supply chains and uncertainty within the Group's customer base," the company said.

The company, which owns farms and supplies pork and chicken to British grocery retailers, reported adjusted group operating profit of 62 million pounds ($82.69 million) for the six months ended Sept. 26, compared with 47.4 million pounds a year ago.

It also increased its interim dividend for the year ending March 27, 2021 by 12% to 18.7 pence per share.

Cranswick, which supplied sandwiches and sausage rolls to UK's front line National Health Service (NHS) staff during the pandemic, said total revenue rose 21% in the reported period to 931.6 million pounds.

(Reporting by Aakash Jagadeesh Babu in Bengaluru; Editing by Rashmi Aich)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CRANSWICK PLC -0.11% 3484 Delayed Quote.-1.02%
EURO / BRITISH POUND (EUR/GBP) 0.08% 0.88866 Delayed Quote.-0.60%
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 1.32% 134.35 End-of-day quote.-4.57%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 0.51% 112.65 End-of-day quote.-0.77%
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Financials
Sales 2021 1 882 M 2 556 M 2 556 M
Net income 2021 88,3 M 120 M 120 M
Net Debt 2021 111 M 151 M 151 M
P/E ratio 2021 20,3x
Yield 2021 1,89%
Capitalization 1 831 M 2 488 M 2 487 M
EV / Sales 2021 1,03x
EV / Sales 2022 0,98x
Nbr of Employees 12 500
Free-Float 94,8%
Chart CRANSWICK PLC
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Cranswick plc Technical Analysis Chart | CWK | GB0002318888 | MarketScreener
Technical analysis trends CRANSWICK PLC
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 3 929,04 GBX
Last Close Price 3 484,00 GBX
Spread / Highest target 23,4%
Spread / Average Target 12,8%
Spread / Lowest Target -8,15%
EPS Revisions
Managers and Directors
NameTitle
Adam Hartley Couch Chief Executive Officer & Executive Director
Martin Thomas Peter Davey Executive Chairman
Mark Bottomley Chief Financial Officer & Director
Jim Brisby Director & Chief Commercial Officer
Helen Catherine Allum Independent Non-Executive Director
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