Cranswick plc
(“Cranswick” or “the Company” or “the Group”)
Capital Markets Day and upgraded medium term targets
Cranswick, a leading UK food producer, is today hosting a Capital Markets Day in London for analysts and institutional investors.
Presented by a selection of the Group’s senior leaders, the event will provide an update on the Group’s strategy, its successful compounding track record and how key strategic enablers will drive further growth.
Today’s event will cover the following:
- Securing pig supply, driving competitive advantage and leveraging genetics capability.
- Investing in fresh pork processing to add capacity and enhance automation.
- Maximising the fresh poultry supply chain opportunity and growing poultry processing capacity.
- Differentiated product portfolio and further premiumisation.
- Strength and depth of customer relationships, including new long-term agreements.
We will also outline upgraded medium term targets reflecting strengthening returns from disciplined capital allocation, as follows:
- Mid single digit organic revenue growth1
- ~7.5% adjusted operating margin2, increased from >6%
- Mid single digit adjusted EPS growth2 maintained
- Upper teens ROCE3, increased from mid-teens
- <2x Leverage4 maintained
- 90% free cash conversion5 maintained
For those unable to attend in person, a copy of the presentation and an audio recording will be made available after the event at www.cranswick.plc.uk.
Outlook
Robust demand for our core pork and poultry products has continued through the fourth quarter. The outlook for the current financial year ending 29 March 2025 remains in line with current market expectations6. No further material commentary on current trading and outlook will be provided at today’s event.
Preliminary results
The Company’s preliminary results announcement for the 52 weeks ending 29 March 2025 will be released on Tuesday 20 May 2025.
Adam Couch, CEO of Cranswick, commented:
“2025 marks Cranswick’s 50th anniversary and today’s Capital Markets Day event is a fantastic opportunity to reflect on our successful business model and strategy which have delivered strong, compound returns for our shareholders and compelling future growth opportunities.
“We are also announcing today more ambitious medium-term financial targets, reflecting the significant strategic progress we have made since first introducing these measures.
“Our relentless focus on the strengths of the business, which include industry leading investment, a clearly defined strategy, broadening product portfolio and unrivalled management team, will continue to support the future successful development of Cranswick over the long term.“
Notes
- Excludes the impact of M&A.
- Excludes IAS 41 movement on biological assets, acquisition related amortisation and impairment of intangible assets.
- Adjusted operating profit divided by the sum of average opening and closing net assets, net debt, pension surplus and deferred tax.
- Net debt (including IFRS 16) divided by adjusted EBITDA.
- Defined as the sum of net cash from operating activities less interest paid, non-growth capital expenditure, net IAS 41 valuation, lease capital and lease interest divided by adjusted profit for the year.
- Market expectations for adjusted profit before tax as at 20 March 2025 range between £190.0m and £195.1m. The range reflects all published Broker analysis.