Cranswick Share Discussion Threads

[dom perignon] 27/5/2005 12:28

goes up on a very little volume :-)

MTG are we the only one holding??

I haven't seen Cat lately....

Cat are you still holding them??

[m.t.glass] 27/5/2005 10:38

Cracking along nicely today..

[m.t.glass] 25/5/2005 15:00

Quality counts for Cranswick as profits jump to a record
Ros Snowdon
Deputy City Editor

GOURMET sausage maker Cranswick is in talks with some of the UK's leading supermarkets to develop exclusive summer ranges of sausages and kebabs that could boost sales by as much as 30 per cent.
Over the past year Driffield-based Cranswick has been busy buying rival companies and investing some £20m in the business so it can gear up to meet the extra capacity.
The news came yesterday as Cranswick announced a 12 per cent increase in pre-tax profits to a record £23.6m during the year to March 31.
Chairman Martin Davey said the group had boosted turnover by 18 per cent to £318.5m despite an eventful year which included a serious fire at the group's Cottingham site, rationalisation of the group's milling capacity, completion of a major investment programme, the purchase of Perkins Chilled Foods and the setting up of a joint venture to produce traditional dry cured bacon.
This latter venture saw the group team up with Sainsbury's to produce a new 'Taste The Difference' range of bacon that has just gone into 450 stores around the country.
More customers are buying dry cured bacon because they don't want to eat meat that has been injected with water.
Some manufacturers inject bacon and pork with water or salt solution to make it look more attractive in the supermarket, but the recent move towards more organic, traditional meats means that people are willing to pay the price to eat quality pork products that don't ooze water once they are cooked.
Cranswick made a name for itself a few years ago by moving into the premium sausage market and it now believes that customers want higher quality bacon and fresh pork.
Chief executive Bernard Hoggarth said Cranswick had taken a traditional cottage industry and put it into premises that meet strict supermarket standards.
"This joint venture has squared the circle. We have been strong on fresh pork, sausages and charcuterie and the one area we were light in was traditional British bacon," he said.
Mr Davey said the group's £20m investment programme had included a £5m investment in a pork retail packing plant in Hull, a new £6m sausage factory in Hull, a £4m investment in a Continental Fine Foods factory in Manchester and £5m was spent in expanding the pet foods business which enjoyed a 35 per cent sales growth last year as more people buy seeds and nuts to attract birds to their gardens.
Talking about the pressure on suppliers caused by the supermarket chains slashing prices in order to compete against each other, Mr Davey said Cranswick was holding its own.
"It has always been a very competitive trading environment, but we have made this major investment so we are more effective and we can maintain our competitiveness," he said.

25 May 2005

[dom perignon] 25/5/2005 13:11

for info...

Cranswick PLC
24 May 2005


24 May 2005
Cranswick plc


Appointment of Non- Executive Director to Cranswick plc ('Cranswick' or the
'Company')

Cranswick announces the appointment of John Worby as a non-executive director to
the Company with effect from 1st August 2005. John worked for many years at
Uniq plc (formerly Unigate) latterly as Finance Director and Deputy Chairman
prior to retirement. On appointment John will be nominated the senior
independent non-executive director and will chair the Audit Committee.


Enquiries:

John Lindop - Finance Director 01377 270649


This information is provided by RNS
The company news service from the London Stock Exchange

[m.t.glass] 24/5/2005 09:12

Thanks DP. I wrongly had May 25 on my watchlist for results(!)


Highlights:

• Turnover increased by 18 per cent to £318.5 million (2004: £270.1m)

• Profit before tax up 12 per cent to £23.6 million (2004: £21.1m)*

• Earnings per share rise by 15 per cent to 41.1p (2004: 35.8p)*

• Proposed final dividend of 9.8p - up 11 per cent

• Perkins acquisition integrating well


Full report also available at

[dom perignon] 24/5/2005 08:47

RNS Number:6596M
Cranswick PLC
24 May 2005

Embargoed until 07.00 Tuesday May 24 2005

CRANSWICK plc: RECORD RESULTS

Results

Turnover in the year increased by 18 per cent to #318.5 million. Sales in the
food operations, including agribusiness, increased significantly rising 19 per
cent from #240.0 million to #286.6 million this year. The latter includes sales
of #26.7 million made by Perkins Chilled Foods since acquisition in January
2005. Sales in the pet business rose 6 per cent to #31.9 million.

Profit before taxation, prior to goodwill amortisation and exceptionals, was up
by 12 per cent to #23.6 million. Earnings per share on the same basis, allowing
for the additional shares in issue and a lower tax charge, were up 15 per cent
to 41.1p. Profit for the financial year attributable to members was #12.8m, up
2%.

Exceptional costs totalling #1.9 million (net) are attributable to the
reorganisation of production facilities following the capital investment
programme and insurance in connection with the fire at the Cottingham site. The
exceptional items gave rise to a net cash inflow of #1.0 million and we
anticipate further cash receipts in the medium term from the sale of three
freehold sites which are surplus to requirements following the reorganisation.

The results are considered in more detail in the review of activities by the
chief executives of the food and pet businesses.


Cash Flow

The underlying cashflow of the business continued to be very strong with the net
cash inflow from operating activities generating #25.6 million compared with
#21.3 million the previous year. The cash outflow on capital expenditure was
#18.7 million compared with a depreciation charge of #5.8 million, the main
items being the new facilities for sausage, charcuterie and pet food. The cost
of the Perkins acquisition was #83.3 million which was funded out of new
borrowing facilities totalling #120 million (which also replaced existing debt)
and a small share placing of #9.1 million. Interest cover for the year was 13
times and remains at a comfortable level with the acquisition and funding costs
included on a full year basis based on historic performance. We ended the year
with net debt of #92.4 million, 107 per cent of shareholders funds.


for full report and the AUDITED CONSOLIDATED PROFIT AND LOSS ACCOUNT
year ended 31 March 2005

[farmsted] 15/4/2005 13:45

The new factory in Hull has had a good reprot on Look North today, what has happened to the share price, keeps going south.

[momentos] 23/3/2005 09:39

End of Financial Year carnage everywhere. Sitting tight.

[m.t.glass] 23/3/2005 09:05

Market in no mood to tolerate the kind of statement put out by CWK - which at other times would be acceptable. Ditched my immediate position for now.

[momentos] 23/3/2005 07:05

Cranswick plc ("Cranswick" or "Company" or "Group")

Pre close period update

Cranswick will announce its preliminary results for the year ending 31 March
2005 on 24 May 2005. In advance of this, Cranswick is pleased to announce that
it anticipates that the Group's performance for the full year to 31 March 2005
will be in line with expectations despite the challenging trading environment
experienced in the fourth quarter.

Current indications for the fourth quarter are that total sales, excluding
Perkins Chilled Foods acquired in January 2005, will be some 7% higher than the
same period last year. Of this, sales of food products will be 17% higher with
fresh pork, charcuterie and sandwiches continuing to show particularly strong
growth. Although, as expected, animal feed sales will be significantly down
following the rationalisation of milling capacity undertaken earlier in the
financial year, there has been a significant improvement in bottom line
contribution.

Perkins Chilled Foods continues to integrate well.

Pet sales for the fourth quarter will be some 10% down in comparison to the same
period last year due largely to a lack of promotional activity on pet food.

Following the Cottingham fire in June last year, discussions are progressing
with insurers regarding the claim. Cautious assumptions have been made in
arriving at the amount of the claim to be included in the full year results.

Following completion of work on the new sausage factory in Hull and the new pet
food facility at Driffield the Company is now at the end of its major capital
expenditure programme to provide the foundations for future organic growth.
Consequently, borrowings are expected to reduce in line with market
expectations.

Martin Davey, Chairman of Cranswick, commented:

"With the recent investment in production facilities and the acquisition of
Perkins Chilled Foods the Company is well positioned to continue its record of
growth"

The information provided above in respect of the Company's performance for the
year ending 31 March 2005 is indicative, subject to final review, and has not
been audited.

Enquiries:

Martin Davey - Chairman )
) 01377 270649
John Lindop - Finance Director )




This information is provided by RNS
The company news service from the London Stock Exchange

[momentos] 17/3/2005 16:43

Trading Statement anytime soon....

They published an "in line" last year on Tue 30 March 2004.

[glaws] 17/3/2005 13:41

Thanks for article Cat.

[cambium] 17/3/2005 07:57

persuaded me to buy in.

In for a penny in for a pound (of sausages) :o))

[jack green] 16/3/2005 23:50

thanks very much for that Cat. A good read.

[cat] 14/3/2005 17:31

One of the two main tips in SCSW this weekend. ( 0208 656 4648 )

Anyone want a copy of the CWK piece email me:

[e-mail]

[m.t.glass] 14/3/2005 08:25

advfn charts not awake yet?
Edit: I see they caught up hours later.

[chester] 14/3/2005 08:09

Nice write up in SCSW at the W/E.

[momentos] 11/3/2005 09:00

CWK / CRM locked together again, both open 595 both drop to 594.

[momentos] 10/3/2005 22:39

Block listing review. Obviously not impressed with Amvescap maths.

Amvescap = 10,551,062.

They say 24.07%

Shares in issue from Block Listing review = 43,542,462.

Amvescap=24.23%

Good to have things on the straight and narrow.

[momentos] 10/3/2005 13:50

You got more of a fall and more of a bounce on CRM. Both charts look like the rear end of their respective animal specialties, hence the far stumpier legs for CWK (pigs) vs CRM (cows). MM's playing etch-a-sketch?

[evilwebby] 10/3/2005 12:57

Picked up a few today. Yummy. As I said on the CRM thread, two very similar stocks whose fortunes seem to run in tandem. Now.. all we need is for another spin on the Atkins diet. :)

[momentos] 10/3/2005 10:56

Indeed, looked back through the historics. Several SARs. Bit like a virus, nice choice of name for them.

[m.t.glass] 10/3/2005 10:51

Only a very minor adjustment by Amvescap, adding half a per cent of what they had before. But 24.07% is a hefty stake they now hold.