(Reuters) - British meat supplier Cranswick Plc (CWK.L) said third-quarter revenue was ahead of last year on volume growth and a strong trading over the Christmas period.
The pork and poultry supplier said export volumes to Far Eastern markets during the quarter ended Dec. 31 were well above the same period last year.
Cranswick, which has a very strong presence in the pork export market of China, said UK pig prices have continued to ease during the period and the downward trend would reflect in selling prices.
The company, which processes and supplies fresh pork, sausage, bacon, cooked meats, also sells in New Zealand and the United States apart from China.
Chinese shoppers have a preference for cuts such as heads, trotters and rinds, but Cranswick has now started to sell more western cuts like bacon and sausages as young Chinese buyers are willing to pay more for the meat.
Cranswick said construction of its new production site in Bury is on track and would be complete in the first half of 2017. The company expects to lift capacity by about 70 percent with completion of the facility and help it cater to the demand from Far Eastern markets.
Cranswick said it was confident in the prospects for the rest of the current financial year.
Reporting by Rahul B in Bengaluru; Editing by Gopakumar Warrier