Meat producer Cranswick PLC (LSE:CWK) said trading was better than expected in the 13 weeks leading up to Christmas thanks to demand from key customers such as Sainsbury's, Tesco and M&S, and it now expects profits to be ahead of consensus.
Shares in the FTSE 250 company rose 1.4% to 3,942p on Thursday morning, extending gains over the past year and bringing the shares back towards 2021's highs above 4,100p.
Sales volumes grew across all pork and poultry categories, it said, with expanded pig farming and milling operations making positive contributions.
The FTSE 250-listed group said it is continuing to invest in expanding capacity, adding automation into its processes and improve efficiency.
Its UK pig business is now more than 50% self-sufficient it said, thanks to investment in pig farming and feed milling.
Earlier this month it agreed to acquire Froch Foods, a processor of pork and poultry products, which it expects to complete this Friday.
"Trading in December was stronger than anticipated as we supported our customers in the lead up to Christmas with exemplary service levels and an innovative range of festive products," said chief executive Adam Couch.