Cranswick PLC (LSE:CWK), the FTSE 250-listed poultry and pork producer, reported a record level of Christmas sales that contributed to strong trading in the past quarter, which it is looking to augment with higher capital expenditure and the acquisition of a pig genetics company.
The UK food producer said the outlook for the financial year to March 29 was in line with current market expectations.
It also hailed the reinstatement after a four-year hiatus of the China export licence for its Norfolk primary processing facility, which led to shipments resuming to the People's Republic earlier this month.
No precise numbers were given for trading in the 13-week period to December 28, but the company said revenue growth was "strong", with volumes growing at an "excellent" rate across its UK meat business.
Premium value-added products were also revealed to have performed "extremely well".
The acquisition of JSR Genetics, located in East Yorkshire, for an unnamed sum is expected to contribute to further expansion of the pig farming and milling operations.
Across the group, Cranswick said capital investment is being accelerated, such that it now expects full-year capex to be ahead of previous guidance.
Shares in the company rose 1.3% to 4,955p on Tuesday morning, less than 5% off their all-time highs from last autumn.