UPDATE 2-Cranswick H1 profit rises; sees meeting FY mkt view

Mon Nov 16, 2009 1:14pm GMT
 
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* Raises dividend by 14 pct to 8 pence

* Sees strong growth in sausage and bacon segments

* H1 pretax profit from cont ops up 22 pct to 21.3 mln stg

* Revenue rises 19 pct

* Shares up 3.6 pct (Recasts, adds chairman comments, updates share movement)

By Aditi Samajpati

BANGALORE, Nov 16 (Reuters) - British pork supplier Cranswick Plc (CWK.L) posted a higher first-half profit, boosted by rise in demand from grocery retailers and European discounters, and said it was confident of meeting the full-year market view.

The company, which supplies fresh pork and gourmet sausages to the UK's food retail and manufacturing sectors, also raised its interim dividend to 8 pence from 7 pence.

"The picture from a pork producer's perspective is very positive. We are seeing increased consumption of pork in the UK ... and a reduction in prices from the record high," Chairman Martin Davey told Reuters in an interview.  Continued...

 

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