The pork and poultry products specialist said revenue in the 13 weeks to 26 June – the first quarter of its financial year – were up 9.6% year-on-year on volumes that were 7.7% higher, reflecting strong retail demand and increased sales from the Eye poultry facility.
Export sales to the Far East were “well ahead” o the same quarter of last year, the company revealed, without putting an exact figure on sales growth.
As a result of strong cash generation and tight working capital management, net debt was only modestly higher at the end of June than it was at the March 2021 (financial) year-end. The group said it remains “in a robust financial position” with committed, unsecured facilities of £200mln providing comfortable headroom.
Shares in Cranswick were up 1.7% at 4,068p in early deals.