Cranswick (CWK) Q3 2025 TU earnings summary

Executive summary

• Achieved strong revenue and volume growth in Q3, driven by core pork and poultry categories and premium value-added products, resulting in a record festive trading period.

• Acquired JSR Genetics, enhancing pig genetics and farming operations, supporting supply security and production efficiency.

• China export licence for Norfolk facility reinstated after four years, with shipments resuming in January.

Financial highlights

• Revenue growth in Q3 underpinned by strong volume growth and premium product performance.

• Market expectations for adjusted profit before tax for FY25 range from £189.0m to £195.1m.

• Previous full-year (53 weeks to March 2024) revenue was £2,599.3m and profit before tax was £158.4m.

Outlook and guidance

• Outlook for FY25 remains in line with current market expectations despite economic and geopolitical uncertainties.

• Board confident in long-term development, supported by strong relationships, product quality, and robust financial position.

• Inflationary pressures and food security risks expected to persist, but business is well positioned to manage challenges.