Cranswick results show significant revenue growth
24th May 2017 / By Alistair Driver
Cranswick posted a significant growth in revenue in the last financial year, following its acquisition of Dunbia Ballymena.
The Hull-based company's audited preliminary results for the year ended March 31, 2017, showed revenue grew 22.5% to £1.245 billion, compared with £1.016bn in 2016. Like-for-like revenue increased by 12.7% and adjusted profit before tax was up 17.2% to £75.5m. However, adjusted group operating margin fell slightly to 6.1% compared to 6.4% in 2016.
Debt also grew substantially. The accounts show net debt of £11 million, compared to net funds of £17.8 million in 2016.
The firm acquired Dunbia Ballymena in November 2016, which it said had further strengthened the Group’s UK pork processing capability.
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