Cranswick 'positive' at half-way stage

5th Oct 2010 07:15

Cranswick has had a "positive" first half, with turnover up 8% at the meat supplier, or 12% adjusted for the sale of its cooked meats business.Overall operating margins were in line with expectations, said the group which sold its Deeside cooked meats facility to Wm Morrison-owned Farmers Boy (Deeside) Limited in July in return for a 49% stake.It's making "good progress" in driving through operating efficiencies at CCF Norfolk, bought in June 2009. It achieved record weekly volumes at the site during the period.Cash generation from operating activities was "strong", helping cut net debt to below the £54m reported at the end of the previous quarter.Results for the half-year to 30 September are due on 15 November.