LONDON (dpa-AFX) - UK food producer Cranswick plc (CWK.L) reported Tuesday that its fiscal 2020 profit before tax grew 20.2 percent to 104.0 million pounds from last year's 86.5 million pounds.
Earnings per share grew 17.4 percent to 159.1 pence from 135.5 pence last year.
Adjusted profit before tax was 102.3 million pounds, up from 92.0 million pounds a year ago. Adjusted earnings per share were 156.4 pence, compared to 144.3 pence a year ago.
Revenue climbed 16 percent to 1.67 billion pounds from last year's 1.44 billion pounds. On a like-for-like basis, revenue grew 13 percent.
Total export revenue went up 92 percent including Far East export revenue up 122 percent.
Further, the company said its Board is proposing a final dividend of 43.7 pence per share, an increase of 9.3 percent. This brings total dividend for the year of 60.4 pence per share, up 8.1 percent.
Looking ahead, Adam Couch, Cranswick's Chief Executive Officer, said, 'There has been a positive start to trading in the new financial year, though we remain mindful of the uncertainty around the longer-term effects of the COVID-19 crisis and Brexit negotiations. Nonetheless, our outlook for the current year is unchanged and we have a solid platform from which to continue Cranswick's successful long-term development.'
Separately, Cranswick announced the appointment of HSBC Bank plc as its joint corporate broker.
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