JOLTS Job Openings (Jun) 7.44M vs 7.5M Expected
Investing.com -- Cranswick PLC (LON:CWK) reported solid growth in the first quarter, with like-for-like (LFL) revenue rising 7.9%, driven by strong demand for its premium meat products and recent contract wins.
The U.K. food producer said consumer interest in natural protein—such as unprocessed meats—remains strong, supporting the outperformance of its higher-end offerings.
Total (EPA:TTEF) reported revenue rose 9.7%, well ahead of the 7% guidance for fiscal 2026 (FY26), aided by the contribution from Blakemans, the sausage maker Cranswick acquired earlier this year. The company has also recently added JSR Genetics, a specialist in pig breeding, to its portfolio.
"A reliably encouraging update from CWK, revenue a touch ahead of our expectations and the outlook for FY26 remaining ’in line with market expectations’," Jefferies analyst Andrew Wade said in a note.
"We continue to see upside to FY numbers and the share price," he added.
The company continues to invest in expanding its production capabilities. It has committed an additional £14 million to upgrade its Lincoln pet food site, aiming to grow both capacity and product range.
"We have made a strong start to the year, delivering volume-led revenue growth across all product categories. We continue to invest at pace across our asset base to drive strong returns," Adam Couch, CEO of Cranswick, said in the release.
For the full year to March 28, Cranswick said it expects adjusted pre-tax profit to fall within the current market forecast range of £206.5 million to £213.6 million.