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Nov 16 2018, 06:45 GMT
Cranswick’s evolution has been shaped by its strategic agility and progressive reinvestment model. Dedicated supply chains have deepened retailer relationships. The roots of the proposed greenfield poultry investment are now firmly planted, with the recent Capital Markets Day (CMD) serving to elevate internal ambitions. Cranswick has the blueprint to be a credible (poultry) sector challenger. We modestly pare back FY 2018/2019 forecasts given the continued deflationary pig price environment. Diversifying into a structurally higher growth protein category will accelerate the growth runway and lift outer-year earnings.