Cranswick plc

The gold standard in food manufacturing

  • Sectors : Foods
  • Companies : Cranswick plc

Ratings and price correct at time of issue.

  • Cranswick plc

    Closing Price: 4020p

  • RATING 09/11/16

  • PREVIOUS RATING N/A

DAVY VIEW

In our view, Cranswick’s FY21 delivery marks an inflection point for the business and the equity story. An astute and progressive capital allocation mindset underpins its gold standard operating credentials. Uniquely, Cranswick has diversified and broadened its product and channel opportunity set without disturbing earnings and dividend progression. Several growth levers remain, while a pristine balance sheet offers significant optionality. Trading on FY 2022 EV/EBITDA of 10.4x and with ROIC over 15%, we view the shares as attractive and reiterate our ‘Outperform’ rating.

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May 20 2021, 12:45 IST/BST

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