Cranswick (LSE:CWK), the UK food producer, said reported revenue rose 5.5% in the 13 weeks to 27 June, driven by volume growth of 8.2%.
Like-for-like revenue climbed 4.0%, with volumes up 6.4%, as lower input prices were passed through to customers.
Poultry revenue grew strongly on retail demand and expanded capacity at the Eye site, while domestic fresh pork revenue rose on double-digit retail volume growth.
Export revenue fell year-on-year, reflecting weaker demand from China and other global markets, with some products redirected into UK wholesale trade.
Pet products revenue rose well ahead of last year, driven by the expanding relationship with Pets at Home, and houmous and dips sales jumped following new retail listings at the Worsley facility.
Cranswick formed a joint venture with the founders of The Jolly Hog Group, a Bristol-based premium sausage, bacon and cooked meats supplier, with the Kohn brothers continuing to lead the brand.
Net debt at quarter end was in line with the March year-end position, with committed unsecured facilities of £360m providing headroom.
"Our continued compounding growth reflects the increasing competitive advantage of our vertically integrated supply chain and record capital deployment across our asset base," said chief executive Adam Couch.
The board said the outlook for the year to 27 March 2027 remains in line with current market expectations, while flagging potential disruption from conflict in the Middle East and the domestic political landscape.
Cranswick will next update on trading with interim results for the 26 weeks to 26 September, due Tuesday 24 November.
News Intelligence what this means for the company
Cranswick delivered 5.5% reported revenue growth in Q1 FY2027 on the back of 8.2% volume expansion, with like-for-like growth of 4.0% as input cost savings were passed to customers. The company maintained full-year profit guidance despite a headwind from weaker export demand (China, global markets), offset by strong domestic retail momentum in poultry and pork, pet products growth tied to Pets at Home, and a new joint venture with The Jolly Hog Group premium sausage brand.
- Pets at Home benefits from Cranswick's expanding pet products revenue, which rose well ahead of prior year.
- The Jolly Hog Group founders retain operational control of the brand under the joint venture structure, signalling Cranswick's acquisition-light growth model.
Volume-led growth and maintained guidance suggest the company's vertically integrated model is delivering resilience despite export headwinds. Net debt remains in line with year-end (£65.0m excluding IFRS 16) against £360m of committed facilities maturing July 2029, leaving room for the £56m Eye capacity expansion already committed, but export weakness and geopolitical risks flagged by management warrant monitoring.
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