Food producer Cranswick plc (CWK.L) Monday said full year profit before tax slid to 47.44 million pounds from 48.35 million pounds in the prior year. Adjusting for the effects of the associate and goodwill impairment in the prior year and the property impairment charge in the current year, pre-tax profit grew 8 percent to 49.3 million pounds from 45.6 million pounds.
Profit for the year was 36.24 million pounds or 74.9 pence per share compared to 37.48 million pounds or 78.4 pence per share last year.
Adjusted earnings per share increased to 78.7 pence from 72.7 pence per share. Revenue climbed to 875.17 million pounds from 820.78 million pounds in the prior year.
Underlying sales, which exclude the contribution from Kingston Foods acquired in June 2012, rose 5 percent, reflecting growth across most product sectors. The Board proposed a final dividend to 20.6 pence per share, up 5.6 percent on last year.
Cranswick Chairman Martin Davey said, ''The Company's well invested asset base, providing efficient means of production and headroom for future growth, along with an experienced management team and a robust balance sheet should enable it to capitalise on opportunities that arise."
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