GREENCORE turned in its expected bumper results this week and David Dilger was in understandably ebullient form. And as time goes on Dilger must be more and more relieved that Greencore, under previous management, didn't consummate a deal with ADM, the American agri group which has found itself the focus of all sorts of nasty stories.

Greencore at that time wanted the Government to sell its 25 per cent stake in the company to ADM. That deal fell through and eventually the remains of the Government holding were securely sold to institutions.

Since then, however, it has all been downhill for the unfortunate ADM. Not only did it plead guilty last October to criminal price fixing in return for a $100 million (£61.2 million) fine, but now one of the Andreas dynasty that runs ADM has been charged by an American grand jury with more price fixing.