Cranswick PLC (LSE:CWK) reported strong trading for the first quarter ended 28 June 2025, with total revenue up 9.7% year-on-year.
The UK food products producer said like-for-like revenue rose 7.9%, driven by volume growth from new business wins and continued outperformance in premium food categories.
Recent acquisition, Blakemans, contributed positively in line with expectations, the
Export sales saw a boost from China following the reinstatement of export licenses, while poultry and pet products performed robustly.
Chief executive Adam Couch commented, “We have made a strong start to the year, delivering volume-led revenue growth across all product categories.”
Cranswick also announced a further £14 million investment in its Lincoln Pet Products facility.
The company noted an increase in net debt due to acquisition spending and seasonal working capital, partially offset by strong free cash flow.
Cranswick refinanced its banking facilities with a new £360 million revolving credit facility, extending to 2029 with an optional two-year extension.
The company reiterated its full-year outlook remains in line with market expectations ahead of reporting its interim results for the half-year to 27 September, which will be reported on 25 November.