Cranswick PLC (LON:CWK) has served up bumper half-year numbers as demand for bacon and sausages soared during the coronavirus (COVID-19) lockdown period.
The Hull-based business said demand across all its products had been exceptionally robust reflecting a shift towards people eating at home more.
Sausage revenue, in particular, was driven by buoyant retail demand across all tiers, it said.
"A strong barbeque season, particularly in the early summer during lockdown, provided a further boost to revenue", the FTSE 250 group said.
'Cooked breakfast occasions' also doubled during the lockdown period with consumers having more time to enjoy meal occasions at home, it added.
Revenues for the 26 weeks to September 26, 2020, jumped by 21% to £932mln, with a 17% like-for-like improvement. Profits rose by 13% to £53.7mln, though on an adjusted underlying basis improved by 31% to £60.7mln.
Cranswick incurred £8.2mln of COVID-19 related costs during the period including a £500 per staff bonus while several factories were disrupted by outbreaks of the virus.
A processing facility at Ballymena, Northern Ireland, was shut for 14 days following a local outbreak, while the Watton was temporarily shut recently after several positive test results.
Both sites are expected to start shipping to China again shortly after the company voluntarily suspended its export licence.
Brexit is also causing uncertainty, Cranswick said, especially for its Northern Ireland business, but overall prospects remain good said chief executive Adam Couch.
"We have made a strong start to the year. Although we remain cautious about the longer-term economic impact of COVID-19 and the continued uncertainty surrounding the ongoing Brexit negotiations, we are well-positioned to address these challenges,” he said in the results statement.
The interim dividend went up by 12% to 18.7p, while bank facility headroom at the end of the period was £200mln.