Cranswick Share Discussion Threads

[phg87] 11/12/2023 09:44

Joined this on Friday. Good Financials and a good news story. Analysts predicting 4300+ so hopefully won't struggle too much with 4000 but who knows...

[fionascott1234] 08/12/2023 15:11

Yes, just in time for Santa.Free cash and lovely if you can get it.

[wad collector] 05/12/2023 17:23

Looks like we might see an ATH soon the way the share price is charging, and a Xmas boost might happen.
I see the director sell of 2666 shares is the same ones he acquired as an option last week.

[eeza] 26/11/2023 12:45

Midas update tip today.

[rolo7] 23/11/2023 00:29

Lovely results next stop 4000+ customer are moving from vegan food as too expensive

[philanderer] 25/10/2023 09:00

Cranswick potential is ramping up, says Berenberg
Strong trading among its customers and the potential in pet food are providing a positive backdrop for food producer Cranswick (CWK), says Berenberg.

Analyst Matthew Abraham retained his ‘buy’ recommendation and target price of £46.20 on the Citywire Elite Companies A-rated stock, which gained 0.7%, or 24p, to £35.20 yesterday.

Abraham said ‘favourable market conditions’ have carried forward from first quarter 2024 to second quarter 2024, which ‘coupled with the outperformance of Cranswick’s major customers relative to peers’, provides the backdrop for ‘strong trading momentum’.

On his calculation, Abraham said there is also ‘revenue potential from the pet food segment’ that could deliver an annual revenue contribution of c£220m, ‘which is significantly above long-term consensus forecasts of £51m’.

‘Cranswick has enjoyed a period of strong performance over the prior six months due to its alignment with retailers that have outperformed peers,’ said Abraham.

‘Cranswick trades on 12-month forward price/earnings multiple of 16.2 times, broadly aligned with its long-term trailing average.’


CITYWIRE.COM

[wad collector] 23/10/2023 07:45

Named in IC's Alex Newman 4 Best British Stocks for 2023 this week FWIW.
This is because it passes his arbitrary list of technical achievements , growth and forecast growth.

[rolo7] 27/9/2023 15:25

Bit of a shake out maybe a trading statement tomorrow?

[rolo7] 20/9/2023 11:39

Fif takeover wonder if this will get looked at as costs are falling target 4000, looks expensive in value terms

[rolo7] 19/9/2023 08:39

breaking out, nice summer weather for septemeber increased sales, rememember this upped yearly profits after just the first quarter a bigger dividend required.

[wad collector] 22/8/2023 21:42

Picked up some more at 31.76 ;not many listed companies in the sector.

[wad collector] 14/7/2023 13:32

XD 58.8p next week.

[wad collector] 26/6/2023 20:54

RBOS raised target price from £34 to £40 today.

[wad collector] 30/5/2023 10:47

Tipped in IC again FWIW. They caution about swine fever risks but think a growth company.

[wad collector] 23/5/2023 20:21

Prelims not finals, but reasonably strong figures.
Financial highlights*:


Change Change
(Reported) (Like-for-like
2023 2022 )
--------------------------------- ------------ ------------ ------------ ----------------

Revenue GBP2,323.0m GBP2,008.5m +15.7% +14.4%
Adjusted Group operating profit GBP146.5m GBP140.6m +4.2%
Adjusted Group operating margin 6.3% 7.0% -69bps
Adjusted profit before tax GBP140.1m GBP136.9m +2.3%
Adjusted earnings per share 210.0p 205.4p +2.2%


-- Statutory profit before tax 7.4% higher at GBP139.5m (2022: GBP129.9m)
-- Statutory earnings per share up 6.4% to 208.3p (2022: 195.7p)
-- Full year dividend increased by 5.0% to 79.4p (2022: 75.6p); 33 years of unbroken dividend growth

-- Return on capital employed(++) of 15.8% (2022: 16.9%)
-- Net debt (excluding IFRS 16 lease liabilities) lower at GBP20.2m (2022: GBP36.2m)
-- Robust balance sheet with GBP250m bank facility providing significant headroom

[wad collector] 19/5/2023 16:42

Finals Tuesday.

[wad collector] 10/4/2023 14:22

Tipped in IC this week FWIW.

[wad collector] 02/2/2023 07:58

Solid Q3 TU. Surely £33 again soon?

[wad collector] 31/1/2023 21:37

TU Thursday.

[wad collector] 16/9/2022 08:00

I think that anyone who has ever been inside a sausage factory would agree that it represents the sharp end of both capitalism and carnivorism!
But the demand for cheap processed food will continue , whatever the Governments food policies suggest , and the current one certainly doesn't look like it wants to improve healthy eating if it offends the food industry.
The current crisis must affect CWK in various ways but the product demand will remain.

[cheshire man] 30/7/2022 13:49

Manchesrtereveningnews.co.uk 28 JUL 2022


Wildcat strike at Bury food firm as staff clash with management over pay and conditions
"People are tired, exhausted, and just want to have proper breaks - drink, rest"



Workers outside Cranswick Continental Foods today (July 28th). They are in dispute over conditions are the plant in Pilsworth, Bury.

A wildcat strike has been staged at a large Bury food company. Both today and yesterday scores of staff did not go into work at Cranswick Continental Foods in Pilsworth. Early today about 100 workers gathered at the gates of the plant where there are no unions.

They are in dispute with management over working conditions and pay. Several workers said an issue over not being allowed to take proper breaks when working on a production line with low temperatures was the crux of the stoppage, with claims that staff were "marshalled" when taking a break and ordered back to work if they took too long. But others also spoke of disquiet over low wages.

The company insists it provides adequate breaks above the statutory requirement but said it had been concerned that a small number of workers were abusing two ten-minute "comfort breaks", which still remain in place, in addition to a 30 minute lunch break.



There are 52 different nationalities who work at the firm and the stoppage is the first in its history. In 1983, the Continental Fine Foods import business was founded supplying olives, antipasti, whole charcuterie joints and salami to the wholesale market. The business was then acquired by Cranswick in 2001.

As the business expanded it outgrew its processing sites in Trafford Park and in 2018 moved to a brand new, £28m purpose built site in Roach Bank Road which employs 600. It has big name customers including Asda, and other major retailers.

One worker told the Manchester Evening News: "In the mornings I am giving a lift to some of my colleagues because they can't afford to come to work in their own car. We need better conditions, and to be treated like human beings and the wages have to go up - they have to do something about it. I am sure they are aware that the cost of living is too high.

"Maybe they have a nice bank account and earn a lot of money and don't realise for us workers it's not the same. We should take home after tax at least £330 to £350 a week to be okay. We are on the minimum wage working in hard, cold, conditions."


Some staff say they work in temperatures of eight to ten degrees.


Staff at Cranswick Continental Foods, Bury, have walked out over issues with pay and working conditions. (Image: Kenny Brown | Manchester Evening News)
Another worker said: "Mainly it is about the break times and the worker's conditions. Many of us are not allowed to have a proper break. We can have a glass of water then we are back down on the production line. The workers feel mentally and physically affected by this. We do have a half hour break which is taken but have two subsequent ten minute breaks which are not in the contract but are the custom of the company in which you can go into the canteen and have a drink then you have to go straight back.

"A lot of people feel that because of the targets they have to meet during that break time they need to rest, have a coffee. Generally they have marshalls now in the canteen and they send you back on the line. Workers are packing and cutting and preparing meats for supermarkets."

Yesterday the PM shift did not go to work and today many of the AM shift workers met at the gates and did not go in. "We are asking for a proper break where you can have a drink or a cigarette. Eight hours in that environment when they have increased the production timings it is a problem not having a rest. We even have line managers who have not gone in to work. Because it is a walk out it is done on an individual basis and we are promised there will be no retaliation," the worker added.


Staff from Cranswick Continental Foods in Pilsworth who are demanding long breaks when working in eight to ten degrees on a production line. (Image: Kenny Brown | Manchester Evening News)
A colleague said: "People are tired, exhausted, and just want to have proper breaks - drink, rest. If you want to go to the toilet you can go, if you want a sip of water you have that but there is no proper break."

Site director at Cranswick, Mike Palmer said: "The welfare of our employees is out number one priority, which is why we allow all our colleagues a formal break as well as a discretionary comfort break during their shifts. We have recently reminded our colleagues of this policy, and a small number believe we are looking to remove this enhanced provision, this is not the case. We have met with our team today and are working with the team on their concerns and hope to have a resolution as soon as possible."

He added: "We really value our employees and offer enhanced benefits, good development, good training. We have a grading structure in place, which means people can join us and continue to improve their earnings as they develop their skills within the business." He said staff were surveyed regularly to gauge their views and to identify "hot topics".

[philanderer] 17/7/2022 09:45

This sausage maker has lost a quarter of its value – but with an 8pc dividend bump, we can’t ignore it


Questor share tip: low debt, high returns and growth potential mark this food producer out as a buy

[aesymnetes] 01/6/2022 14:07

Saw extension work on two of their sites, that i have not seen mentioned anywhere

[wad collector] 01/6/2022 13:59

A director has obv been reading IC and just spent £40k on them.

[wad collector] 29/5/2022 09:10

Prelims were strong last week and IC have just run an article tipping them as a BUY. They highlight the abattoir staff shortages, the reduction in pork prices as China restricted imports, the worry about African Swine Fever but it's pretax profits are up 5% due largely to poultry.