CRWCY - Stay-At-Home Food Spending Drive Puts Cranswick In Good Stead
Cranswick (CRWKF), the UK food producer and supplier, recently released a first-quarter trading update which detailed a strong quarter and an increase in future guidance. Cranswick's valuation remains attractive to me at the current levels, reflecting a well-established and well-diversified producer with an excellent record of delivery on growth. This combination puts Cranswick on a buy.
First Quarter update
Cranswick provided a first-quarter trading update for the 13 weeks to 27th June. Revenue was up by 25% from the same period the previous year, driven by the surge in demand associated with COVID-19.