Cranswick Shares Soar to Record High on Upbeat Profit Forecast, Strong UK Performance

Shares of Cranswick, a leading British meat producer, reached a record high on Friday following the company’s announcement of an upbeat profit forecast for the current fiscal year. The company’s strong performance, driven by robust growth in its UK food business and pig farming operations, has fueled investor confidence and propelled its shares to new heights.

Cranswick, which supplies a range of fresh pork, bacon, sausages, poultry, and continental foods to major supermarkets, has been strategically investing in expanding its production capacity and diversifying its product offerings. This strategy, coupled with easing cost pressures and a gradual return to premium products by UK consumers, has contributed to the company’s strong performance.

“We are not surprised by the upgrade in profit forecast,” said Andrew Wade, an analyst at Jefferies, adding that the robust volume growth witnessed in the first quarter is expected to continue through the first half of the year.

Cranswick expects trading in the first half of the year to be ahead of the previous year, exceeding initial expectations. The company anticipates adjusted pretax profit for the fiscal year ending March 29th, 2025, to be at the upper end of market expectations, which range from £179.2 million to £191.7 million.

Shares of Cranswick surged nearly 6% in early trading, reaching an all-time high of 4995 pence. The stock has gained approximately 31% since the start of the year, reflecting investor confidence in the company’s growth trajectory and its ability to navigate a challenging economic environment.

Key Takeaways:

• Cranswick has raised its annual profit forecast, citing strong performance in its UK food business and pig farming operations.
• The company’s strategic investments, coupled with easing cost pressures, are driving growth.
• Shares of Cranswick hit a record high, reflecting investor confidence in the company’s outlook.
• Cranswick’s performance highlights the resilience of the UK food market despite broader economic challenges.

Cranswick’s positive results demonstrate the company’s ability to adapt to changing market dynamics and capitalize on growth opportunities. Its focus on expanding production capacity, diversifying its product offerings, and catering to evolving consumer preferences has positioned the company for continued success in the UK food market.