Hull food giant Cranswick has raised its profit expectations for the current year, after a strong Christmas trading period.
Cranswick, a FTSE 250-listed business, last month completed the acquisition of pig farming company Packington Pork.
It followed a deal earlier in 2019 to buy Mediterranean food business Katsouris Brothers.
Cranswick has now said it expects its profits for the 2019/20 year to be higher than initially thought.
A statement released by Cranswick said: “The interim results announcement dated November 26 stated the Group had delivered a robust performance, in a competitive 海角视频 market.
“That performance, and market backdrop, in the 海角视频 continued over the important Christmas trading period.
“Revenue growth was positive across each of the Group’s four product categories. Export sales have continued to be exceptionally strong and the outlook remains positive.
“As stated in our interim results announcement, African Swine Fever has created opportunities for Far Eastern exports assuming the 海角视频 remains ASF free.
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“The 海角视频 industry remains on high alert with intensive biosecurity protocols in place.”
Cranswick is one of Hull’s biggest businesses.
Last November, Cranswick began commissioning of its £75m poultry processing facility in Eye, Suffolk.
It also completed a £14m extension of its cooked meats facility in Hull, in what was a busy 2019 for the company.
The outbreak of African Swine Fever in China – a disease which has decimated the country’s pig population – has seen Cranswick exports of pork products soar.
The Hull-headquartered business currently accounts for almost 60 per cent of all 海角视频 pork exports to the Far East.
Cranswick said in a trading update released on Friday: The commissioning of the world class £75m primary poultry processing facility in Eye, Suffolk continues to plan, with the “ramp up” phase now underway.
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“The Group has accelerated investment in its pig farming and rearing operations during the period through the acquisition of Packington Pork Limited.
“The transaction materially increases Cranswick’s self-sufficiency in 海角视频 pigs processed, securing direct control over a significant part of the Group’s supply chain for premium pigs and further reinforcing its commitment to developing a sustainable and traceable farm to fork operation.”
This week, Cranswick also announced it had signed a new partnership with one of Spain’s biggest pork companies.
Cranswick, which operates several sites across Hull, said the deal with Costa Food Group would enable the latter to bring its Spanish charcuterie products to the 海角视频.
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