Vegetable burgers help lift Dalepak profits

DALEPAK, the North Yorkshire frozen foods manufacturer, lifted its pre-tax profits by 30 per cent to pounds 3.9m in the year to 25 April largely thanks to bumper sales of vegetable burgers.

Sales of vegetable products rose by 14 per cent to pounds 17.4m in a buoyant market.

Dalepak is spending about pounds 4m on its main plant this year to expand capacity and make it comply with EC hygiene standards.

Jonathan Ropner, founder chairman, and two of the other founder directors have retired from the board and sold a total of 1.5 million shares, representing 13 per cent of the company and leaving them with about 25 per cent.

Turnover was unchanged in the year at pounds 40.6m, but after adjusting for discontinued businesses it was up 8 per cent.

Earnings per share rose to 23.01p from 17.62p. The final dividend climbed to 4.5p, making a total of 6p for the year compared with 5p. The shares jumped 10p to 338p.