At the annual general meeting for Greencore, the chairman, Ned Sullivan, said that 2004 was another year of good progress.

He announced that pre-tax profit grew by 8%, despite an unusually high level of raw material cost increases in the convenience food categories.

The company continued to focus strongly on convenience food activities with the disposal of its loss-making bread business, Rathbones, and its interest in sugar distribution associate, James Budgett.

Sullivan stated: “Looking forward, the Board anticipates that 2005 will be another successful year for Greencore and is confident about the future prospects of the Group.”