The food producer Cranswick posted some solid full year numbers this morning with the company firing on all cylinders as recent investment plans yield results whilst the reinstatement of a pork export license from Norfolk to China is also helping. Like for like revenues are up 6.4%, fresh pork revenues added 10.2% and the petfood division is also surging as onboarding continues here. Shareholders are being rewarded with a 12% increase in the dividend and the Cranswick share price was trading up 2% a few minutes after the open.
The high street baker to fast food outlet Greggs posted a trading update for the first 20 weeks of the financial year this morning. Markets offered resounding support for the news with inflation pressures in check, store roll outs continuing and new product lines – including some healthier options – being added. Once again the chain is proving resilient in the face of broader macroeconomic uncertainty and management are reiterating full year guidance. The valuation continues to claw back the losses from earlier in the year and in early trade, the Greggs share price was up as much as 7%.
There’s an interim financial report out from Topps Tiles this morning which shows good progress being made in across key growth areas in the first half of the year. Adjusted sales rose by 4.1%, gross profits were up 3%, an interim dividend of 0.8p per share has been declared and the full year payout will be at least consistent with FY 24. The note adds that the second half of the year has started strongly, with improving sales trends highlighted. The Topps Tiles share price was up around 6% by 8.20am.
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Trading Update - - Greggs (GRG)
