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CWK Cranswick Plc

4,096.00
-20.00 (-0.49%)
Last Updated: 12:01:19
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Cranswick Plc LSE:CWK London Ordinary Share GB0002318888 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -20.00 -0.49% 4,096.00 4,090.00 4,100.00 4,138.00 4,072.00 4,124.00 7,674 12:01:19
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Food Preparations, Nec 2.32B 111.4M 2.0670 19.83 2.21B
Cranswick Plc is listed in the Food Preparations sector of the London Stock Exchange with ticker CWK. The last closing price for Cranswick was 4,116p. Over the last year, Cranswick shares have traded in a share price range of 2,940.00p to 4,210.00p.

Cranswick currently has 53,895,137 shares in issue. The market capitalisation of Cranswick is £2.21 billion. Cranswick has a price to earnings ratio (PE ratio) of 19.83.

Cranswick Share Discussion Threads

Showing 451 to 475 of 850 messages
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DateSubjectAuthorDiscuss
18/5/2007
12:02
LONDON (Thomson Financial) - The following is a compilation of UK smaller company results due out in the 2 weeks to Jun 1:

MONDAY MAY 21

Cranswick PLC is hopeful of a further strong sales performance moving into 2007/08 on the award of some additional cooked meat volume for the Delico business. The value of this business could be up to 50 mln stg, although, as the new contract is to be phased in over a period of time, it will probably chip in around 40 mln in the coming year, according to Investec Securities.

Meanwhile, Cranswick trading update indicated that the company has continued to show a very strong sales performance in its final quarter.

Organic growth in food (i.e. excluding the Delico acquisition) was 17 pct, with the sausage, bacon and continental products showing the stronger performances. Delico will add around 8.5 mln stg of revenues this year which will boost the Q4 food sales growth to 22 pct, said Investec.

Elsewhere, the animal feed operations showed a more modest 2 pct progress, but the Pet division saw a further weak quarter (sales down 6 pct) with the mild winter affecting bird food sales.

In total, Investec expects revenues for the year to be around 520 mln stg, with 450 mln of this coming from the food operations (around 16 pct organic growth for the full year).

In the second half, Investec has penciled in a 10 pct uplift in operating profit. This produces a second half margin of 7.3 pct which is better than H1's 7.0 pct but still lower H2 on H2. However, during H2, the slippage in pet food sales will result in a lower profit contribution and also the Delico acquisition is only really operating at breakeven given its modest current sales, the broker pointed out.

The Delico acquisition has resulted in the group gaining considerable market share and triggered strong retaliatory action from competitors. For Cranswick, there has been some impact on margin.

As a result, Investec is leaving its forecasts for the year to end-March 2008 unchanged - it looks for pretax of 34.3 mln stg - but for 2006/07, the broker predicts a rise in profits to 32.0 mln stg from 29.0 mln. This would lift normalised EPS to 49.4 pence from 47.5, from which a 17.5 pence (16.5) dividend total is anticipated.

Citigroup is forecasting 33.0 mln stg pretax for 2006/07.

m.t.glass
02/5/2007
14:35
The headline they gave this article today (Sausage King Buys MK Food Producer) gives the impression that the takeover is today. It was last autumn. But this progress report is encouraging)

businessweekly.co
By Ben Fountain, 02 May 2007


- the Delico management team

Milton Keynes based food producer Delico is feeling a warm glow following its acquisition by London listed 'sausage king,' Cranswick – announcing the trebling of its workforce to 300 in the coming weeks
DeliCo, a six year old cooked meats manufacturer, was acquired by Hull head-quartered Cranswick in November in a cash and shares deal of undisclosed value.

With production set to soar in May, the factory is recruiting from Bucks, Beds, Northants and Herts to fill 200 new roles.

Key positions include supervisors, engineers, quality controllers as well as production staff.

Cranswick was formed by farmers in the early 1970's to produce pig feed.

Activities have since been extended from this agricultural base into the food sector, where it has made a name for itself in the sausage industry, and pet sectors.

In a trading update issued last month, Cranswick said it expected total sales in the final quarter to be 20 per cent higher than the corresponding period last year.

Sales of food products increased by 22 per cent, with charcuterie, sausage and bacon showing particularly strong growth, the company said.

The pre-packed cooked meats market in the UK is valued in excess of £1.3 billion and continues to grow strongly – growth of 8 per cent was recorded in the year to September 2006.

Cranswick, which has a market cap of around £424m, said its acquisition of Delico was motivated by a desire to accelerate the development of its customer base and keep up its record of growth.

It has been as good as its word, investing a significant, although undisclosed amount in Delico's 100,000 sq ft MK factory. The state of the art facility was another draw for Cranswick, identifying what it described as "substantial unutilised capacity."

"Our manufacturing site includes a cutting edge, air circulation system which removes harmful organisms, 24 hours a day.

"The first class hygiene standards would challenge any food manufacturer.

"Recent, industry-wide food scares have driven consumers to justly vote in their purchasing behaviour," said Nick Tranfield, MD of DeliCo.

Cranswick entered the pre-packed cooked meats market with the acquisition of Perkins Chilled Foods in January 2005. Perkins was merged with Cranswick's pre-existing cooked meats business at Sutton Fields and renamed Cranswick Convenience Foods.

Paul Handforth of Crown HR and Recruitment will be jointly handling the recruitment of the new employees, along with Delico's Human Resources manager, Caroline Armitage.

m.t.glass
27/4/2007
09:46
Sausage giants Cranswick are hoping for success with the national launch of a new "super" premium sausage brand.

The company is launching an initial five lines under the Simply Sausage brand, which was created in 1991 by chef Martin Heap with the launch of his gourmet Simply Sausage shop in Smithfield meat market.

Bernard Hoggarth, chief executive, said Cranswick were looking to take the brand outside the M25 and introduce it to the rest of the country.

"The sausages only use prime cuts of meat, fresh herbs and wholesome ingredients as well as natural casings, all the things that were so important to Martin 15 years ago," Hoggarth said.

The initial phase of the launch will see five sausages launched onto the market: Smithfield No1 recipe: outdoor reared pork sausages with nutmeg; Smithfield No1 recipe: outdoor reared pork chipolatas with nutmeg; outdoor reared pork sausages with apple and acacia honey; outdoor reared pork sausages with Italian inspired herbs; outdoor reared pork sausages with leek and air-dried bacon.

The sausages will be sold in larger 480g packs of either six sausages or 10 chipolatas, priced at £2.99 each.

(source: meatinfo.co.uk today)


Hmm.. 'Simply' seems a bit of a misnomer if they are all dressed up with fruit and veg and 'erbs.

m.t.glass
23/4/2007
09:17
I went to a friend wedding in Driffield last year, they hired Driffield House.... Great night, sorry off topic.
cambium
23/4/2007
09:15
08:00 - 23 April 2007


Driffield: A pet products company is toasting a £5m contract.

Cranswick Pet Products, based in Driffield's Kelleythorpe Industrial Estate, has won the contract to supply Solus Garden and Leisure with food products for its ChapelWood range.

ChapelWood products, manufactured by Cranswick, will be available in 95 per cent of garden centres across the UK through the Solus Group
Cranswick will supply about 2,500 tons of bird food annually to the firm.

Jeremy Smith, Cranswick's commercial manager, said: "We were aware of the potential to grow the wild bird care market within the garden retail sector.

"It was clear Solus was the ideal partner to allow us to access this market on a national scale, not just because of its logistical capabilities but due to its outstanding reputation.

"Solus has a great team of people within its business and we look forward to working to grow the category together."

Solus has a £100m turnover, and the contract aims to make ChapelWood the biggest wild bird food brand in the British garden centre market.

Henry Corbett, ChapelWood brand manager, said: "We know we can rely on Cranswick as an integral part of our supply chain, in order for us to maintain our high standards.

"This contract means we can be assured of a consistent supply of top quality food."

m.t.glass
04/4/2007
11:19
Today's Daily Mail (Ian Lyall):


Cranswick

One-year share performance: +31%


The sizzle has gone from sausage maker and cured meats firm Cranswick, which yesterday warned that competition had ratcheted up a notch and would hit profit margins.

Shares immediately retreated on the news, although they are coming back from an incredible two-year run, which has seen the company almost double in value.

Cooked meats has been the real battleground and the group has reportedly lost £100m of sales to competitors.

Panmure Gordon is chopping back its profit forecast by £1m for this year to £33m and £2m next to £36m.

Valued at 16 times forecast earnings, the shares trade at a premium to the sector. Whether they deserve to so from here on in is debatable, particularly as valuations are coming down to around £9 a share from closer £10.

VERDICT: Take profits

m.t.glass
03/4/2007
21:15
Confirming Cambium's post:


Cranswick "hold," target price reduced

Tuesday, April 03, 2007 9:04:21 AM ET
Panmure Gordon & Co

LONDON, April 3 (newratings.com) - Analysts at Panmure Gordon maintain their "hold" rating on Cranswick Plc (ticker: CWK-GBX). The target price has been reduced from 970p to 880p.

In a research note published this morning, the analysts mention that the company has reported its 4Q results broadly in-line with expectations. Cranswick's margins were impacted by intensifying competition in the recent weeks, the analysts say. Increased pricing competition in cooked meats is expected to impact the company's performance in 2008, Panmure Gordon adds.

m.t.glass
03/4/2007
14:00
Thanks. Aye. HMY and ADM my biggest winners today ;o)
(I'm supposed to be on holiday but there's too much action out there!)

m.t.glass
03/4/2007
13:44
I know you are doing very well elsewhere well done mate
cambium
03/4/2007
13:43
Nah - just watching ;o)
m.t.glass
03/4/2007
13:32
I guess they got it a bit quick for my liking though, MT - you must be buying back your tenners worth now!
cambium
03/4/2007
13:29
Panmure hold for 880p
cambium
02/4/2007
17:30
LONDON (SHARECAST) - Sausage manufacturer Cranswick expects full year results to be in line with management's expectations, it said in a statement after Monday's close.

Total sales in the final quarter were 20% higher than a year ago, with sales of food products up 22%. Charcuterie, sausage and bacon showed particularly strong growth.

Animal feed sales rose 2%, while food sales, excluding the impact of Delico, acquired in November last year, climbed 17% on a like-for-like basis.

Turnover in the pet business, which accounted for 6% of total group sales in the quarter, was 6% lower though following disappointing sales of bird food.

"Whilst further sales growth is anticipated in the forthcoming twelve months there are signs that the company is facing a more competitive trading environment," it said.

"Cranswick is well placed to respond to this challenge as the board pursues its strategy for the continued successful development of the business."

Results for the year ending 31 March 2007 will be announced on 21 May.

-----------------



NOTE: "...in line with management's expectations.."

This does not necessarily mean the same as 'in line with market expectations'. What are the management's expectations? Are they better, or worse, than market expectations? There seem to be some positives in today's statement - but also "there are signs that the company is facing a more competitive trading environment".

m.t.glass
08/3/2007
23:04
Cranswick directors take home the bacon
Thu 08 Mar 2007

LONDON (SHARECAST) - Shares in pork products specialist Cranswick have soared as the demand for gourmet type sausages has taken off in recent years.

Shares in the food group recently hit an all-time high after the group reported sales climbed by a fifth in the three months to December.

The price has come off in the market turbulence since then and dipped again today as a number of senior executives decided to cut their stakes.

Chairman Martin Davey sold 25,000 shares at 930p, raising £232,000. Finance director John Lindop and Bernard Hoggarth and Derek Black, who run the food and pet divisions respectively, also sold similar amounts at the same price.

Sales by Cranswick directors are rare. The previous significant disposals were nearly two years ago in June 2005, since when the share price has appreciated by about a third.

m.t.glass
05/3/2007
17:12
This does tend to get pushed around quite easily on low volumes so hopefully no reason to panic (I have done enough of that already!) - CWK had done quite well (under the circs) until today!
56richard
05/3/2007
16:54
Entering Cranswick in searchbox will reveal which funds hold a stake. Clicking each fund will (in most cases) reveal where(if) this stock is among the fund's top ten holdings.
m.t.glass
05/3/2007
15:39
We don't get much information on this web, has Fidility sold there shares ?
farmsted
12/2/2007
18:09
I think the momentum will increase too as consumers continue to loose confindence in cheap meats (Bernard Mathews?) and look for reassurance in premium products - I dont think Cranswick are too exposed to turkey meat either. Looking like a real success story at the moment.
56richard
12/2/2007
17:55
This thread should be renamed "Posh sausages are flying" as the share price continues to climb!
beechtree
12/2/2007
14:27
Pushed through a tenner without too much trouble
cambium
09/2/2007
17:15
"..A FIRM at the centre of controversial expansion plans was celebrating yesterday after East Riding councillors gave their backing to the proposals.
Cranswick Country Foods, at Preston, near Hull, succeeded in winning round councillors with revised plans which will add another 2,450 square metres to the site..."

(Yorkshire Post, 9 Feb)

Edit: That's 26,370 sq ft, for those of us who still think in imperial.

m.t.glass
09/2/2007
16:47
Check here for thirty(!) funds that apparently have a stake in Cranswick

Click each fund name to see if Cranswick is listed within their top ten holdings (Skandia and a few others don't do that)

I have not checked to see if the holdings are definitely all this Cranswick, and not some other Cranswick..

m.t.glass
09/2/2007
16:10
Cashed in some at 999.615p
Holding some still

m.t.glass
09/2/2007
14:58
Thankyou MT
cambium
09/2/2007
14:55
Soon to be testing that big round number. Today?
m.t.glass
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