Cranswick has announced its audited preliminary results for the year ended 31 March 2017.
Revenue grew 22.5% to £1,245.1 million, compared to £1,016.3 million in 2016, like-for-like revenue increased 12.7% and adjusted profit before tax increased was up 17.2% to £75.5m. However adjusted group operating margin fell slightly to 6.1% compared to 6.4% in 2016.
Debt also grew substantially. The accounts show net debt of £11 million, compared to net funds of £17.8 million in 2016.
Adam Couch, Cranswick’s chief executive said: “We have reported another year of strong growth in financial results, during which we have also made further strategic and commercial progress.
“We enter the new financial year in excellent shape having added to our asset base, enhanced market positions and successfully integrated our two strategically important acquisitions during the last twelve months. We have further strengthened the solid foundations of our business and we believe we are well placed to continue to deliver sustainable organic growth going forward.”
