Cranswick PLC (LSE:CWK) said revenue growth accelerated in the third quarter, adding that its full-year guidance remains unchanged.
All four product categories for the 13 weeks to 24 December 2022 were ahead of the corresponding period last year, the food producer said, which reflected underlying growth and cost inflation recovery.
December trading was particularly robust, underpinned by fresh pork, convenience and its festive gourmet range.
Revenue growth in poultry reflected a positive contribution from its new Hull breaded poultry facility, which offset lower sales from its Hull cooked poultry facility.
For fresh poultry, a breakout of avian influenza at five farms had a limited impact on revenue, and the group noted it received financial compensation for the lost birds.
"We have delivered another strong quarter of growth, building on the momentum generated in the first half of the year,” said chief executive Adam Crouch.
“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.”
As a result, the outlook remains unchanged, with the board confident there will be further development of Cranswick this year and beyond.
Cranswick said its investment plan remains on track, with projects that will enhance the capability of and add capacity to several of its production facilitates.
Additionally, the group will no longer need to pay £1.8mln annually into a benefits scheme for employees of its subsidiary after agreeing to a £3.7mln buy-in contract in December.
Net debt increased during the period, although unsecured facilities of £250mln provide comfortable headroom, Cranswick said.