Entertainment One
We’ll kick off with full year numbers from Entertainment One, the people behind the Peppa Pig franchise. Earnings per share are up 10%, putting the number at the top end of analyst expectations. The company’s family & brands and TV divisions are faring well, compensating for an underperformance in the films division, whilst debt is falling. This all looks to be good news for the company with strong product development plans in place for the future, too.
Cranswick
Keeping with the porcine theme, pig processor (well, they’re a lot more than that these days) Cranswick have impressed with this morning’s full year results. Earnings per share are up almost 20%, placing them at the top end of estimates. Revenues are up over 12% and most critically – given what we’ve seen elsewhere of late – margins are improving, too. To get an idea of the scale of this operation, Cranswick now process over 59,000 pigs each week across three facilities.
Pets at Home
Bringing things together in a way is Pets at Home, who also published full year results today. Headline figures paint a rather less upbeat picture here with revenues up, but margins are being squeezed, leading to a 12% drop in pre-tax profits. The market was anticipating numbers around this level so that may remove some pressure and the company is in the midst of a transition period to return to sustainable growth. They recognise the benefits of being more than just a retailer, expanding higher margin pet grooming and vet services – investors might just let this one pass!