Cranswick has issued a robust statement to the market that it is "well positioned" for the future despite the challenging economic conditions.

The company which supplies pork for the Jamie Oliver and Black Farmer brands as well as retail own label reported underlying like-for-like sales growth of 4% in its trading statement for the year ended 31 March 2011, with volume up 6%.

At the same time, it warned the year to 31 March 2012 could be more demanding than usual as consumers continued to be squeezed and input costs soared. However, it claimed its strong product range and strong finances meant it was "well positioned".

Shore Capital analyst Clive Black said: "We share management's self-confidence in the long-term outlook for the company due to its talented team, involvement in fundamentally good markets and well -invested facilities."