Cranswick plc (CWK.L), in its fourth-quarter trading statement, reported a 5 percent growth in underlying sales for the year to March 31, 2013, with annual total sales rising 7 percent after considering the contribution from Kingston Foods which was purchased on June 29, 2012.
Adjusting for the benefit of the 53rd week in the prior fiscal year, underlying and total sales were 7 percent and 9 percent ahead, respectively. On a corresponding basis, sales in the three months to March 31, 2013 were 13 percent and 15 percent higher, respectively. Operating margins are likely to be broadly in line with those reported a year back.
The company added that the development of the new pastry facility in Malton, North Yorkshire remains on schedule and to budget, with first commercial production expected in quarter one of the new fiscal year.
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