Cranswick has reported increased revenues in its poultry business, but reduced volumes in its cooked poultry products.
In its trading statement for the first quarter of the year, covering the 13 weeks to 24 June 2023, the company said trading has been strong. Revenue overall during the period was 14.7% ahead of the same period last year.
Poultry volumes were modestly below the equivalent period last year, the company said, but did not release specific figures. However, it said lower cooked poultry volumes partly offset by strong growth in breaded poultry.
Cost inflation continues to be proactively managed and mitigated through tight cost control and ongoing recovery, albeit the rate of inflation is now starting to slow.
Ongoing investment in retail packing, slow cook capacity and other expansion and efficiency projects are well underway, the company said. Additional investment in Cranswick’s cooked poultry site will increase cooking and roasting capacity and will enhance the ability to deliver value-added products in the category.
Adam Couch, CEO of Cranswick, commented: “We have made a strong start to the year, delivering another quarter of growth during which we have again supported our customers by providing excellent service levels to ensure full availability of our products. None of this would have been possible without the incredible support of our colleagues across the business and I thank them for their continued commitment and dedication.
“Our continued positive progress reflects the substantial ongoing investment in our asset base and the quality and capability of our colleagues across the business.”