UK meat heavyweight Cranswick has elevated its medium-term margin outlook, driven by “robust demand” for its products.
On March 20, the London Stock Exchange-listed enterprise, which supplies major UK supermarket groups, made this announcement to align with a capital markets day for analysts and institutional investors.
Cranswick, headquartered in Hull in north-east England, has adjusted its operating margin target to around 7.5%, an increase from its previous projection of over 6%.
Additionally, the company, celebrating its 50th anniversary this year, outlined goals for mid-single-digit organic revenue growth, while aiming to sustain mid-single-digit adjusted earnings per share growth.
“Robust demand for our core pork and poultry products has continued through the fourth quarter,” the company stated in its announcement.
Adam Couch, CEO of Cranswick, commented, “We are announcing today more ambitious medium-term financial targets, reflecting the significant strategic progress we have made since first introducing these measures.”
Couch further emphasized, “Our relentless focus on the strengths of the business, which include industry-leading investment, a clearly defined strategy, broadening product portfolio, and unrivaled management team, will continue to support the future successful development of Cranswick over the long term.”
Cranswick, which owns brands such as Ramona’s houmous and Bodega charcuterie, as well as producing pet food, will unveil its annual results on May 20.
