Independent discounter Frozen Value is on course to post record turnover and profit this financial year.

MD Kevin Gunter said his company is “trading its socks off” and is growing faster than in the year ending December 2007, when its pre-tax profit increased from £711,000 to £1.1m.

The company, which trades as Fulton Foods, has opened 10 stores this year.

“We have a niche in the market - we offer major brands at great prices and real value that’s an alternative to the supermarkets and the traditional discounters,” he said. “We have recorded double-digit sales growth and significant profit growth for the past three years and are on track to exceed those improvements.”

Next year he plans to open 10 more stores, bringing the total to 94. He added that his business, which is currently based in the north, could be successful in the south of England.