Cranswick sees FY at upper end of expectations after strong H1

Food producer Cranswick said it expected annual results to be at the upper end of expectations after first-half trading came in ahead of the previous year.

The company said it was still cautious about “current market and wider economic and geopolitical conditions” but noted that trading since the end of the first quarter “has been stronger than previously expected, underpinned by continued robust volume growth in our core UK food business (and) a positive ongoing contribution from our expanding pig farming operations”.

"Consequently, we now expect our first half performance to be ahead of the same period last year." the company said in a trading statement on the 26 weeks to September.

Market expectations for adjusted pre-tax profit at September 27 2024 ranged between £179.2m - £191.7m.

Reporting by Frank Prenesti for Sharecast.com