Cranswick warns on margins, shares plunge

FILE PHOTO: Dumidru Voicu nets meat at Cranswick Convenience Foods in Milton Keynes, Britain November 20, 2017. REUTERS/Darren Staples - Copyright DARREN STAPLES(Reuters)

By Reuters

Published on 07/02/2019 - 09:34•Updated 19/04/2024 - 23:16

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(Reuters) - Cranswick Plc said on Thursday operating margins were likely to decline in the next fiscal year, sending shares of the British meat supplier down 18 percent.

Cranswick, which maintained expectations for its current-year trading performance, said operating margin was likely to be hit in part by higher costs.