The overall performance of the Company in the six months to 30 September 2007 has been positive and in line with management’s expectations. The sales performance has been strong with revenue increasing by 22 per cent and most product categories delivering double digit growth. This has offset additional costs associated with the outbreak of foot and mouth disease and start up costs of the new business at Delico.
Cashflow from operating activities continues to be strong enabling significant investment in new production facilities without increasing borrowings. The major spend in the period has been on the new premium bacon factory which is progressing on target. In August the Company took its interest in Cranswick Gourmet Bacon Limited from 85 per cent to 100 per cent.
The Company intends to announce its interim results on 19 November 2007.
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