Turnover at Frozen Value rose by 7.2% to £53.2m in 2009, in a performance the discount chain called "very pleasing".

Pre-tax profits fell 10.8% to £1.9m, which MD Kevin Gunter blamed on investments in the business including an increase in store numbers from 80 to 87.

Ebitda was stable at just over £3m, which was an indication of the company's strong trading performance, Gunter added.

However, he admitted that the company's like-for-likes sales had slowed in recent months.

"The recession has seen frozen food and discounters show fantastic growth and recently there has been an inevitable correction in consumer behaviour as people return to their normal habits," he said. "Our like-for-like sales figures are still strong and the demand for discounters will also remain strong."