“The business continues to face into an extremely tough trading environment with further increases in input costs. Clearly margin performance improvement is a top priority, and this will be underpinned by working hard on the action plans that make the most difference to our core business. Nevertheless, we remain positive about our top line growth and how that positions us with our customers.
“We continue to progress our Poultry footprint changes, which delivers quality, safety and a shorter, leaner, more transparent supply chain. We are investing in our people and our sites, with a view to optimising available capacity.
“Our Meals division has benefitted from rationalisation and investment which will also provide a springboard for further growth. However, as with our Branded businesses, cost inflation has negatively affected margins, and our teams are taking ongoing actions to redress the balance.
“Whilst this will not happen overnight, our management team are focused on delivering our step change plan to enable us to continue on our journey of producing high quality and safe food.”