Cranswick has provided an update on trading for the 13 weeks to 24 December 2022. Revenue growth accelerated in the third quarter, building on the momentum generated in the first half of the year.
Poultry revenue growth reflected a positive contribution from the new Hull breaded poultry facility which offset lower sales from the Hull cooked poultry facility, the company said.
Avian influenza was confirmed at five poultry farms supplying Cranswick, however the company said this had led to only a “very limited impact on fresh poultry revenue” and “full financial compensation” had been received for all lost birds.
“In recent weeks the incidence of confirmed cases in the UK has reduced, but we continue to enforce strict biosecurity protocols across all our farms,” the company said.
The outlook for the current financial year remains in line with the board’s expectations. Adam Couch, CEO of Cranswick, commented: “We have delivered another strong quarter of growth, building on the momentum generated in the first half of the year. Our core UK market remains extremely resilient as our customers and the UK consumer continue to recognise and appreciate the quality, value and versatility of our pork and poultry product ranges.”