Cranswick H1 Preview: Analyst Expects Robust Progress

Shore Capital expects Cranswick (LON: CWK) to deliver another period of “robust progress” when it reports interim results on 25 November, forecasting strong sales momentum and well-underpinned full-year guidance.

The broker projects Cranswick (a House Stock: Shore Capital acts in an advisory capacity to the company) to post adjusted pre-tax profit of £103.4 million for the six months to 27 September, up about 8 percent year on year, and earnings per share of 140.3p, a 4 percent increase.

Group sales are forecast to rise 9.5 percent, supported by a 2 percent contribution from the acquisition of Blakeman, a food service sausage manufacturer.

Like-for-like growth is seen at around 7.7 percent, driven by higher volumes across all divisions, particularly in poultry, where new business wins are boosting performance.

Shore Capital expects operating profit (EBIT) of £110.4 million, representing 11 percent year-on-year growth, with margins steady at 7.6 percent.

The firm said Cranswick remains “a high-quality business, very well invested, with a diverse array of growth avenues in pork, poultry, farming, Mediterranean foods and pet.”

While consumer sentiment in the U.K. remains cautious, analysts Darren Shirley and Clive Black said the company’s strong execution, industry-leading operations and balance sheet underpin its outlook.

“We look for confirmation of a six-month delivery that leaves our FY26 forecasts well underpinned,” they wrote.

Shore Capital highlighted that Cranswick trades on a 2026 forward price-earnings ratio of 17.2x and an EV/EBITDA multiple of 8.9x, reflecting its standing as a core holding in the U.K. consumer sector.