Cranswick plc announce an interim dividend is being increased by 10.1% to 25.0p per share from 22.7p per share previously. The interim dividend will be paid on 24 January 2025 to Shareholders on the register at the close of business on 13 December 2024.
Other financial highlights include:
Strong reported volume-led revenue growth of 6.1% with like-for-like revenue growth of 5.8%
o Revenue from core UK food business ahead by 6.4% underpinned by 7.0% volume growth
o Poultry revenue up by 16.4% with Poultry now accounting for 19.5% of total Group sales
o Pet food revenue 71.1% higher reflecting successful ongoing roll out of Pets at Home contract
67bps increase in adjusted operating margin to 7.5%, reflecting a strong contribution from growing pig farming operations, excellent capacity utilisation and tight cost control
Free cash conversion of 110.9% with ROCE up 234bps to 18.7% and net debt pre-IFRS 16 down £50.1m to £0.9m
Outlook for the financial year ending 29 March 2025 remains in line with current market expectations
