LONDON (dpa-AFX) - Cranswick Plc (CWK.L), a British food producer, reported Tuesday that its first-half profit before tax grew 3.8 percent to 90.2 million pounds from last year's 86.9 million pounds.
Earnings per share were 124.0 pence, higher than 119.5 pence a year ago.
Adjusted profit before tax for the period was at 95.8 million pounds, compared to 81.6 million pounds last year. Adjusted earnings per share were 132.1 pence, compared to 112.2 pence in the prior year.
Total revenue in the 26 weeks to September 28 was 1.33 billion pounds, 6.1 percent higher than 1.25 billion pounds a year ago. Revenue increased by 5.8 percent on a like-for-like basis.
Further, the company announced that the interim dividend is being increased by 10.1 percent to 25.0p per share. The dividend will be paid on January 24,2025 to shareholders on the register at the close of business on December 13.
Looking ahead, Cranswick said its outlook for the financial year ending March 29, 2025 remains in line with current market expectations, though it remains cautious about current market and wider economic and geopolitical conditions.
According to the company, the market expectations for adjusted profit before tax as at November 25 ranged between 189.0 million pounds and 193.0 million pounds.
Adam Couch, Cranswick's Chief Executive Officer, said, 'We remain on track to deliver further progress in the second half of the year. Our Christmas order book is strong and demand for our innovative products remains high as the UK consumer continues to appreciate the quality, value and versatility of our core pork and poultry ranges..... Focusing on these strengths will allow Cranswick to continue to prosper, both in the current financial year and over the longer term.'
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