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Investing.com -- Cranswick shares rose 3.7% after the company reported strong first-half results with like-for-like revenue growth of 7.9%, consistent with its first quarter performance.
Total revenue growth reached 10.4% in the first half, up from 9.7% in Q1, boosted by the acquisitions of Blakemans and JSR.
Management described the first half as "very positive" with growth primarily driven by volume increases. The company’s Poultry segment performed particularly well, growing 19% and now representing 20% of the business mix.
Cranswick also improved its EBIT margin by 20 basis points to 7.7%, though return on capital employed decreased slightly due to recent investments in acquisitions and capital projects, which totaled £89 million in the first half.
The company noted that the "positive trading momentum from H1 has continued into Q3," indicating a strong start to the second half of the year.
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