LONDON (dpa-AFX) - Cranswick plc, (CWK.L), a food producer, Tuesday, reported higher earnings for the year ending March 25, 2023 on higher revenues reflecting recovery from inflation.
Profit before tax increased 7.4% to 139.5 million pounds from 129.9 million pounds of prior year.
Earnings per share increased 6.4% to 208.3 pence per share from 195.7 per share of last year.
Adjusted Profit before tax increased 2.3% to 140.1 million pounds from 136.9 million pounds of last year.
Adjusted earnings per share increased 2.2% to 2.10 pence per share from 205.4 per share of the previous year.
Revenue increased 15.7% to 2.32 billion pounds from 2 billion pounds of last year.
The company declared a dividend of 58.8 pence per share and with the interim dividend of 20.6 pence per share the total dividend for the year is 79.4 pence per share. The final dividend is payable on September 1 to share holders of record on July 21.
'The company has a strong balance sheet and we have comfortable financial headroom to support our ongoing capital investment program. Strengths of the business include diverse and long-standing customer base, breadth and quality of products and channels, robust financial position and industry leading infrastructure will support the further development of Cranswick over the longer term.' Commented Tim Smith, chairman of Cranswick.
On Monday, shares of Cranswick closed at 3140 pence, down 0.19% or 6 pence on the London Stock Exchange.
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