Global Group has announced major changes to the company, including the disposal of its meat trading division and a name change - to Canterbury Foods.

The company’s headquarters have also been relocated to its manufacturing site at Hull and the new Group, subject to shareholder approval, will operate out of seven plants in the UK and employ around 600 people.

The Group’s chief executive, Paul Ainsworth, said that trading at the beginning of the year started slowly, as a result of a depressed demand, following the relatively poor Christmas trading in 2002. However, he said that year-on-year volumes, excluding sales made to Burger King, were ahead in the first six months.