A strong but in line set of FY16 finals from Cranswick this morning. In the period EPS grew by a strong 14% and the DPS lifted by 10%. We note the diversification into poultry has been positive and the recent Crown acquisition was a good complimentary deal. We do not envisage much change to consensus forecast this morning. The shares after a fantastic run in the last 12m on a YR1 P/E of 20x look broadly up with events. We move back from Buy to Hold.
24 May 2016
In line finals – we downgrade to Hold


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In line finals – we downgrade to Hold
Cranswick plc (CWK:LON) | 3,406 -1430.5 (-1.2%) | Mkt Cap: 1,790m
- Published:
24 May 2016 -
Author:
Sahill Shan -
Pages:
3 -
A strong but in line set of FY16 finals from Cranswick this morning. In the period EPS grew by a strong 14% and the DPS lifted by 10%. We note the diversification into poultry has been positive and the recent Crown acquisition was a good complimentary deal. We do not envisage much change to consensus forecast this morning. The shares after a fantastic run in the last 12m on a YR1 P/E of 20x look broadly up with events. We move back from Buy to Hold.