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Trading statements

Cranswick revenues rise

24 July 2017 07:14

Cranswick, a leading UK food producer, has reported a positive start to its financial year with revenue in the three months to 30 June 27% ahead of the corresponding period last year.

Like-for-like revenue grew by 21%, underpinned by strong domestic volume growth, with all product categories making a positive contribution. And it said that rising input costs were partially mitigated during the period.

An update said: "The group continues to invest heavily across its asset base to add capacity and capability and to ensure it can deliver high quality food products to its customers from modern, well-invested and efficient facilities.

"During the period, further progress has been made on the new, purpose-built continental products factory in Bury, Greater Manchester, which will consolidate current production from the Group's two existing facilities and provide substantial additional capacity to support future growth."

Looking ahead, the update said: "With experienced management at all levels of the Group, a strong range of products, a well-invested asset base and a robust financial position, the board is confident in both the outlook for the current financial year, which remains unchanged, and the continued long-term success and development of the business."

Story provided by StockMarketWire.com

Related Company: CWK

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