logo
Plus   Neg
Share
Email

Cranswick FY19 Profit Down On Weak Revenues; Warns On FY20 Margin - Quick Facts

Food producer Cranswick plc (CWK.L) reported Tuesday that its fiscal 2019 profit before tax declined to 86.5 million pounds from last year's 88.0 million pounds. Earnings per share were 135.5 pence, compared to 137.8 pence last year.

Adjusted profit before tax was 92 million pounds, compared to 92.4 million pounds last year. Adjusted earnings per share were 144.3 pence, compared to 145 pence last year.

Revenue for the year dropped 1.9 percent to 1.437 billion pounds from prior year's 1.465 billion pounds. On a like for like basis, revenue edged down 0.2 percent.

Further, the Board proposed an increase in the final dividend to 40.0 pence per share, an increase of 3.6 percent. This gives a total dividend for the year of 55.9 pence per share, an increase of 4.1 percent from last year.

Looking ahead, the company said that success has been achieved over the longer term, despite occasional periods of more intense commercial challenges. The new financial year is expected to be such a period as outlined in February. The Group's operating margin is likely to decline, reflecting the potentially challenging commercial landscape.

Trading since then has been as anticipated. The Board's expectations for the performance in the new financial year remain unchanged.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Apple Inc. is taking necessary precautions including Covid-19 testing for those employees returning to work at its headquarters in Silicon Valley, Bloomberg reported citing people familiar with the process. The company, which opened its main Apple Park office in May bringing back some hardware and software engineers, plans the gradual reopening of the building keeping the coronavirus safeguards. A U.S. appeals court has blocked the sales of Bayer AG's dicamba-based Xtendimax in the United States. The three-judge panel in the U.S. Court of Appeals for the Ninth Circuit ruled that the US Environmental Protection Agency (EPA) overstated the protections and substantially understated or ignored the risks related to the use of dicamba-based herbicides. Tesla Chief Executive Officer Elon Musk has called for a breakup of Amazon after the online retail giant refused to publish an upcoming book about COVID-19. Writer Alex Berenson said on Twitter that Amazon refused to publish his booklet about the coronavirus as it did not comply with the company's guidelines. Berenson is a former New York Times reporter.
Follow RTT