Pork processor Cranswick, which has a factory in Watton, said it was holding price discussions with its customers after pig prices reached a three-year high due to animal feed costs and EU welfare regulations.

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The overall performance of the Hull-based business has been in line with expectations after underlying turnover rose 5pc in the six months to September 30.

In a trading update i the company said there had been a modest increase in pig prices during the period, but they remained below the peak of last summer. The impact had been absorbed through increased volumes and continued operating efficiencies.

Its acquisition of Milton Keynes-based Kingston Foods at the end of June strengthened its cooked meat production capabilities and further diversifies its product range in a growing market.

At the company’s AGM chief executive Bernard Hoggarth stood down with chief operating officer Adam Couch, who has been with the business for more than 20 years, taking over the top job.

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