# Cranswick plc  Continuing to invest for future growth

- Link: https://www.directorstalkinterviews.com/cranswick-plc-continuing-to-invest-for-future-growth/412762061
- Published: 2018-11-27T07:57:09+00:00
- Author: Charlotte Edwards

**Cranswick plc** (LON:CWK), a leading UK food producer, today announced its unaudited
results for the six months ended 30 September 2018.

**Strategic developments:**

· Record H1 capital expenditure of £41m to provide the platform for future growth

· Construction of new, world-class, £60m primary poultry processing facility in 
Eye, Suffolk underway

· New £27m Continental Foods facility in Bury, Lancashire fully commissioned

· Substantial investment in upstream agricultural operations in both pork and poultry
to ensure supply chain integrity and [sustainability](https://www.directorstalkinterviews.com/sustainability-green-stocks-news)

**Financial highlights:**

· Revenue of £719.2m (2017: £714.6m)

· Adjusted Group operating margin1 at 6.2% (2017: 6.2%)

· Adjusted profit before tax1 of £44.8m (2017: £44.4m)

· Adjusted earnings per share1 of 70.0p (2017: 70.0p)

· Dividend per share increased by 5.3% to 15.9p (2017: 15.1p)

· Net funds at £2.2m (2017: net debt of £16.7m)

· Statutory profit before tax down 4.3% to £42.6m (2017: £44.5m)

· Statutory earnings per share 5.4% lower at 66.4p (2017: 70.2p)

> **Adam Couch, Cranswick’s Chief Executive Officer commented:**
> “The first half performance was in line with our expectations. They were achieved
> despite more uncertain domestic market conditions and softer pricing in key export
> markets.
> “The Group’s capital investment programme remains firmly on track. During the 
> period we spent a record £41 million across our already well invested asset base
> as we build a platform for future growth.
> “Our new £27 million Continental Products facility in Bury, Lancashire was commissioned
> during the period. We have also invested heavily in the Group’s agricultural operations
> and construction of a £60 million class-leading, primary poultry processing facility
> in Eye, Suffolk, which is due for completion towards the end of the next financial
> year, is now well underway.
> “The Board is confident that continued focus on the strengths of the Company, 
> which include its long-standing customer relationships, breadth and quality of
> products, developing export channels and asset infrastructure, will support the
> delivery of its expectations for the current year and its further successful development
> over the longer term.”

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