Shares in meat supplier Cranswick (LON:CWK) rose 9 percent on Tuesday, after posting a 14 percent rise in profit over the year.
Pre-tax profit rose £88 million, with revenue up 18 percent to £1.46 billion. Pre-tax profit also also shot up 22 percent to £92.4 million, with the group reporting a full-year dividend of 53.7 pence, up 22 percent.
The meat supplier was boosted by strong demand for sausages and bacon, with good revenue streams and falling pig prices boosting margins.
Cranswick confirmed that trading for the current financial year will continue in line with management expectations, with the figures weighted towards the second half.
“The business has continued to make commercial and strategic progress over the past year and the board believes there is a solid platform in place from which to progress further within the pork, poultry and associated categories of the food sector,” the company said.
“The strengths of the company include its long-standing customer relationships, breadth and quality of products, growing export channels and well invested asset infrastructure.”
Shares in Cranswick are currently trading up 8.72 percent at 3,440.00 (0829GMT).
