Own label cake and pastry product manufacturer, Inter Link Foods, has posted an 11% rise in half year pre-tax profit and announced it was to make an offer for maltloaf maker Soreen.

For the period to October 31 Inter Link said pre-tax profit rose to £1.31m from £1.16m on turnover of £24.55m up from £22.55m.

Chairman Jeremy Hamer said Inter Link’s trading in the run up to Christmas was lower than anticipated, but that new business gained and continuing new product development, it looked forward to the remainder of the year with confidence.

With regard to buying Soreen, Inter Link proposes to raise approximately £6.1m, net of expenses, by way of a placing and open offer of 2,456,141 new ordinary shares at 285p each.

In the year to September 30 2002, Soreen made an operating profit of £1.55m on turnover of £11.4m.