The food producer said that first-quarter trading was in line with expectations and its purchase of the remaining 60 per cent stake is Solway Foods in the second quarter should provide a boost. The shares closed down 6p at 158p.

Meanwhile, former chairman Lord Haskins failed to block the company's remuneration package, which was defeated at the annual meeting. Shareholders voted unanimously to pass the deal that sees executive receive pay rises of up to 18 per cent.