CRANSWICK has reported “solid underlying volume growth” and “cost inflation recovery” in a trading statement covering the 13 weeks to 24 December 2022.
The firm’s poultry division growth reflected a positive contribution from its new breaded poultry facility in Hull, however avian influenza presented a “very limited” impact on fresh poultry revenue.
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Avian influenza hit five farms in the supply chain within the reporting period, but financial compensation had already been received for the 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 statement adds.
All four of the company’s categories were ahead on the same period a year earlier, the update said, with December trading “particularly robust.”
Adam Couch, chief executive of Cranswick, said: “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.
“The broad-based inflationary pressure we are experiencing across our cost base continues to be well controlled and mitigated.”
The update did not include figures. Results for the 52 weeks to 26 March 2022 showed revenue of £2,008.5m and profit before tax of £129.9m.