Shares in Northern Foods rose 5p to finish on 91p yesterday, despite the food manufacturer reporting falling half-year sales and profits.

Half-year pre-tax profit to 30 September fell 38% to £16m on sales down from £651.9m to £645.1m. It also warned of tough trading conditions in the second-half.

Analysts were concerned that there has not been enough interest from potential buyers for the businesses it put up for sale in May this year as part of a radical strategic review.