REG - Cranswick PLC - Third quarter trading statement

CranswickAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260127:nRSa4435Qa&default-theme=true

RNS Number : 4435Q  Cranswick PLC  27 January 2026

27 January 2026

 

Cranswick plc

("Cranswick" or "the Company" or "the Group")

 

 

Third quarter trading statement

 

Cranswick, a leading UK food producer, today provides an update on trading for
the 13 weeks to 27 December 2025.

 

Current trading

Strong revenue growth in the quarter, including the key Christmas period,
reflected a continuation in the positive trading momentum delivered in the
first half of the year with all product categories ahead of the corresponding
prior year period.  Consequently, we now expect full year adjusted profit
before tax to be towards the upper end of current market expectations(5).

 

December sales were ahead of the strong prior year comparative period, driven
by record Christmas trading across our Fresh Pork, Convenience and Gourmet
festive product ranges.  Premium added-value ranges performed particularly
well, including showcase centre of plate products and festive grazing
platters.  We delivered excellent service levels and innovative new product
launches for our key strategic retail partners, enabling this strong Christmas
performance.

 

The recent Blakemans, JSR Genetics and Fridaythorpe feed mill acquisitions
continue to drive positive momentum with performance better than initial
expectations.

 

Poultry revenue was significantly ahead of the prior year driven by stronger
fresh poultry pricing, reflecting the move to enhanced welfare lower stocking
densities, and the onboarding of premium retail business at the added-value
Cooked and Prepared Poultry sites.

 

Pet Products revenue grew strongly as the relationship with Pets at Home
continues to develop with the onboarding of additional premium lines.

 

Investment

Our substantial ongoing capital investment programme continues at pace across
our industry-leading asset base to provide the platform for further growth and
generate strong returns.  We have made significant progress across the
pipeline of major projects which will enhance the capability of and add
capacity to several of our flagship production facilities as well as driving
further operating efficiencies.  We now expect capital expenditure for the
full year to be in the region of £160 - 170 million, lower than our previous
guidance due to the timing of spend on major projects.

 

Financial position

As expected, net debt increased during the period, reflecting our ongoing
capital investment programme and the usual seasonal uplift in working capital
with a substantial unwind expected by year end.  The Group remains in a
robust financial position with committed, unsecured facilities of £360
million following the refinancing completed during the first half of the year,
providing generous headroom to fund future growth and investment.

 

Outlook

Demand for our premium pork and poultry categories remains robust, reflecting
the UK consumers' desire for high quality, healthy, nutritious food which is
both versatile and great value.

 

The Board is encouraged by the continued strategic progress of the business
and is confident that focus on the core strengths of the Company, which
include its long-standing customer relationships, breadth and quality of
products, industry leading asset infrastructure and robust financial position,
will support the further successful development of the Group both in the
current financial year and over the longer term.

 

Preliminary results

The Company's next scheduled comment on trading will be the preliminary
results announcement for the 52 weeks ending 28 March 2026, on Tuesday 19 May
2026.

 

Adam Couch, CEO of Cranswick, commented:

"We have delivered another strong quarter of growth underpinned by revenue
growth across all product categories and a record Christmas trading period.
This excellent performance is the result of our unrelenting focus on
delivering outstanding service levels, sector leading innovation and
unrivalled product quality across our festive product range for our customers.

 

"I would like to thank all of our colleagues for their ongoing support and
commitment.  The unrivalled capability of our people across the business is
key to our continued successful progress and development."

 

 

Enquiries:

 Cranswick plc                            01482 275 000
 Mark Bottomley, Chief Financial Officer

 Sodali & Co                              +44 207 100 6451
 Ben Foster / Louisa Henry                cranswick@sodali.com (mailto:cranswick@sodali.com)

 

 

Note to editors:

1.     Cranswick is a leading and innovative supplier of premium, fresh
and added-value food products.  The business employs over 16,000 people and
operates from 23 well-invested, highly efficient facilities in the UK.
Cranswick was formed in the early 1970s by farmers in East Yorkshire to
produce animal feed and has since evolved into a business which produces a
range of high-quality, predominantly fresh food, including fresh pork,
poultry, convenience, gourmet products and pet food.  The business develops
innovative, great tasting food products to the highest standards of food
safety and traceability.  The Group supplies the major grocery multiples as
well as the growing premium and discounter retail channels.  Cranswick also
has a strong presence in the 'food-to-go' sector and a substantial export
business.  Results for the 52 weeks to 29 March 2025 showed revenue of
£2,723.3m and profit before tax of £181.6m.  For more information go to:
www.cranswick.plc.uk (http://www.cranswick.plc.uk)

2.     At Cranswick, it is second nature for us to protect and nurture our
environment while supporting people and communities to thrive.  Guided by our
sustainability strategy, Second Nature, we have seamlessly integrated our
sustainability commitments into the core of our business model, which in turn
shapes our decision-making, culture, and actions. For more information on our
Second Nature strategy, please visit: www.cranswick.plc.uk/sustainability
(http://www.cranswick.plc.uk/sustainability)

3.     This announcement is based on information sourced from unaudited
management accounts.

4.     This announcement contains certain forward-looking statements with
respect to the financial conditions, results of operations and businesses of
Cranswick.  These statements involve risk and uncertainty because they relate
to events and depend upon circumstances that will occur in the future.  There
are a number of factors that could cause actual results or developments to
differ materially from those expressed or implied by these forward-looking
statements.  Nothing in this announcement should be construed as a profit
forecast.

5.     Market expectations for adjusted profit before tax as at 26 January
2026 range between £211.3m and £216.0m, with a mean of £213.4m.  The range
reflects all published updated Broker analysis following release of our
interim results on 25 November 2025.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTFFFLLLEIRFIR



            Copyright 2019 Regulatory News Service, all rights reserved