YP75: China's Eurozone pledge brings cheer to resurgent markets

However, investor confidence received a boost on Thursday as China reassured investors that it was not considering cutting its holdings of Eurozone debt.

The news helped markets to bounce back and recover many of the losses suffered in the early part of the week.

Sausage producer Cranswick has seen its profits increase from 34.7m to 43.8m in the last year to the end of March.

Consumers looking for cheaper pork having reduced their food budget, helped overall sales to climb 22 per cent which led to a 740m turnover.

When compared to the previous year's figure of 607m, it appears the business is progressing strongly.

The group have invested heavily in its pork products over the year and remain confident that its value positioning will continue to attract customers.

Some of its recent success can be attributed to the use of Jamie Oliver to endorse their products. This is the first time the company has used a celebrity to promote themselves and the resulting increase in pre-tax profit is very promising.

In addition, the company's recommended 16 per cent increase in its final dividend will no doubt please shareholders.

Figures from engineering and construction specialists Renew Holdings saw a 30 per cent fall in pre-tax profit on the back of difficult market conditions.

While the sizeable drop in profit was disappointing the company continue to view the future with confidence in light of an improved order book and the Government's wish to maintain spending on social housing. The company reported a 31 per cent increase in its order book to 289m while Allenbuild, its social housing arm, was able to secure 65m of work during the first half.

Clyde Process Solutions, an engineering company specialising in providing pneumatic conveying and air filtration for process industries worldwide, recorded record operating profits of 6.7m, up 6 per cent from 6.3m the previous year.

However, the company reported pre-tax profit of 4.6m on revenue of 72.5m which is down on last year's figures.

Following the growth in operating profits and cashflow, the Doncaster-based company remain confident in the future and this has led to a resumption of the dividend. The company looks well placed to benefit from its strong forward order book of 20.5m at the year end in February. This has now risen to 21.8m at the end of April 2010.

Edward Marsden Assistant Investment Manager at Brewin Dolphin, Leeds