Shares of Hull-based meat processing giant Cranswick rose about 6% after it published a third quarter trading statement — for the 13 weeks to December 24,2022 — showing its revenue growth accelerated, with trading in December “particularly robust.”

Cranswick employs over 13,700 people at 20 plants throughout the UK.

“Revenue growth accelerated in the third quarter, building on the momentum generated in the first half of the year,” said Cranswick.

“All four product categories were strongly ahead of the corresponding period in our core UK market, reflecting solid underlying volume growth together with further cost inflation recovery. 

“Trading in December was particularly robust, underpinned by strong demand for our Fresh Pork, Convenience and Gourmet festive range of products. 

“Our customers and consumers continue to recognise and appreciate the quality, value and versatility of pork.

“Poultry revenue growth reflected a positive contribution from the new Hull breaded poultry facility which offset lower sales from the Hull cooked poultry facility. 

“There was a very limited impact on Fresh Poultry revenue following Avian Influenza outbreaks at five farms across our poultry farm estate early in the period; we have received full financial compensation for all lost birds. 

“In recent weeks the incidence of confirmed cases in the UK has reduced, but we continue to enforce strict biosecurity protocols across all our farms.

“Far East export sales were well ahead of the same period last year, with slightly lower volumes comfortably offset by significantly stronger pricing.”

Cranswick CEO Adam Couch said: “We have delivered another strong quarter of growth, building on the momentum generated in the first half of the year. 

“Our core UK market remains extremely resilient as our customers and the UK consumer continue to recognise and appreciate the quality, value and versatility of our pork and poultry product ranges.

“The broad-based inflationary pressure we are experiencing across our cost base continues to be well controlled and mitigated.

“Our relentless focus on innovation together with the passion and dedication of our people are the key enablers of our continued successful progress and development.  

“I would like to thank all of our colleagues for their ongoing commitment and support.”