Business 14 November 2013

Creditors left hanging as Queues form butcher folds

Is there still a class divide that undermines universities? Page 5

Sainsbury’s celebrates after defying low-budget rivals Page 4

One of the South West’s bestknown butchery chains has collapsed with debts reportedly running

BY TRISTAN CORK into millions of pounds. tristan.cork@b-nm.co.uk Gerald David and Family, based in Minehead, went into A butcher’s shop that opened last week inatone the of West’s liquidation theofend last most famous meat-produweek, leaving old more than 50 cing towns been a smash staff facinghasan uncertain success – with more than 1,200 fcustomers uture. in just the first four An of administrator has been days trading. appointed to runButler its affairs.

Boss Adrian opened Apart its two shops his firstfrom butcher’s shop in in Bradford on Avon, Wiltshire, just 18 months ago and that has been enough of a success already to expand.

50 1,200

Staff facing uncertainty due to the difficult situation at Gerald David

Customers at butcher’s in first four days of trading in Chippenham Minehead the company had six including units in Dailyothers business e-briefing Taunton, Dulverton and Chedwww.southwestbusiness.co.uk is dar, all supplied from the comthe home of business news for pany’s own abattoir in Porthe region. today outlets and enjoy lock.

ThereVisit are other at a free daily e-briefing Darts Farm, Topsham, and at Puxton Park, near Westonsuper-Mare.

It also ran a So last Thursday, the familymobile unit which appeared at run business opened its doors shows as home the Bath and in Mr such Butler’s town of Chippenham and even West and Devon–County. though is the in business Borough At one ittime Parade, modern shopping was one ofa the most successful centre with mobile phone in the South West food sector. shops and fashion stores, cusMr David, with tomers havewho beenstarted queuing out one shop in the of theside-street door.

1970s, a top-of-the-range Mr drove Butler originally sourced his fromwere his own Bentley andmeat clients inpig farm in Shropshire.

He vited to week-ends aboard his decided he wanted to go into ocean-going motor cruiser.

But there were less successful ventures into a lingerie business and a wet fish shop, and two hotels, one in Culbone, near Porlock, and the other in Dunster, both of which ultimately failed.

And things started tofirst go the butcher shop trade so badly wrong last year when it learned all about pig-keeping was to 100 payonfines and withordered a herd of a smallpenalties holding. of £15,000 after being But as demand grew, he said prosecuted

by Trading Standhe hasThe looked to other sources, ards. company had built and more andon more peoplebeef are its reputation sourcing demanding meat they can and lamb from Exmoor, with trust. its“Everything shops, vehicles and here is website as local using images sheepwhere and as possible, andofI know cattle grazingI on Exmoor. everything sell has come from, farm and which But awhich lengthy investigation abattoir,” some he said. revealed of what was “Wesold ’ve had 1,200meat customers being as local had in through the door days fact come fromin four animals and it has been amazing. bought in the Midlands.

We’ve even had two local Earlier inquiring this year, already Gerald schools David from about officially sourcing retired their school the business and went to live lunch meat from us, which is great. in Spain, handing everything “Wetoexpanded to Chippenover sons Alistair and ham as well as Bradford, bePhilip. But the abattoir was cause the Bradford store just reported as having closed couldn’t cope with the some daysThe agoplace afterhere a dispute demand. is big with meat inspectors enough now to make our over pies, unpaid bills and over so it’s getting bigger all the the time.” week-end unsold goods and The last equipment were traditional removed butchmost er’s of shop in Chippenfrom the shops. ham closed more The company’s debtsthan are re-a decade ago – hit by the rise of portedly in the millions, with super markets. creditors including livestock Chippenham has a small auctioneers and bacon and Waitrose in the same shopping cheese centre,suppliers. a Tesco nearby in the town large Mead, out-ofDairycentre, farmera Derek town Morrisons and said a large Puxton Park’s owner, arSainsbury’s were which has made plans rangements being to expand. to Butchers take the and butchery outlet local produback in house and to carry on cers across the West Country trading there. have seen a boom since the Despite efforts horse meat strenuous scandal as increasing Western numbers of Press customers the Daily was seek out provenance of unable to the contact the David their food, especially meat. family yesterday.

Britain has the highest inflation rate in the European Union, according to figures from the 28-nation bloc’s official statisticians.

The 2.7 per cent annual CPI inflation rate recorded in the UK in September was well above the overall EU rate of 1.3 per cent and the 1.1 per cent in the eurozone, said Eurostat.

Embattled regional airline By comparison, inflation Flybe saw the end of an era was zero per cent the in Ireland, yesterday when family one perofcent in France and 1.6 trust late steel magnate per in Germany, while Jackcent Walker sold its entire sharehare oldfalling ing. year on year prices Walker Greece family trust, in The Bulgaria, and which took on theto assets of the Latvia, according the Euronorthern stat figures.businessman and former Blackburn Rovers Labour Treasury spokeswofootball club owner, was the man Catherine McKinnell majority shareholder of Flybe said yesterday: “ThisAviation is yet through Rosedale more evidence the cost-ofHoldings beforeofoffloading its 48.1 per cent facing stake for £25.2 living crisis families million.Britain after three across It cuts long-held ties with years of this Government’s the Walker family, originally failing policies.

Prices have formed in 1983 when Mr now risen than wages in Walke r’s faster steel business took 39 out of the 40 months under over then-Jersey David Cameron andwhich now was we European Airways, learn that we have the highest rate of inflation of any EU Jack Walker’s csteel ountbusiness ry.

“David Cameron is so out of took over the touch he thinks people are then-Jersey better off, but working people European are overin£1,500 worse off since Airways 1983 he came to office.”

Walker family sells Flybe shareholding

to buy from new butcher’s

BY CHRIS RUNDLE AND TINA ROWE wdbusiness@b-nm.co.uk

Inflation worry risks growth

Future brighter for publisher

Butcher Danregion’s Belt atbiggest the Butler’s in Chippenham, where meat is as local asGerald possible.

Bosspictured Adrian Butler One of the chainsshop of butchers’ shops has gonetheinto administration.

David, above, says: ‘ to I know I sellhis haseponymous come from,chain which farm andadministration which abattoir’ CLARE GREEN retired Spainwhere earliereverything this year, but went into last week, it is PICTURE: understood

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later rebranded British European before becoming Flybe in 2002.

Shares in Flybe plunged 10 per cent after the sale, but the group’s new chief executive Saad Hammad a “mileWest Countryhailed publisher stone” said as the move saw the Future it was on course to shares a snapped upfor by the newfirst and deliver dividend existing is time sinceinvestors.

2011, as itIt anthought that shareholders innounced that results to the end cluding billionaire US investor of September meet expectGeorge Soroswill have increased at ions.stakes in the group. their Future, whoseFlybe’s titles include Exeter-based second largestFilm shareholder after Total and technology Rosedale was British Airways magazine T3, as well as games owner International Consolidand music websites, said there ated Airlines Group, while was “encouraging moformer chairman Jim French mentum” across all trading also owns a stake. areas. bookings MondAdvertising ay’s restructuring anfor the first will quarter nouncement lead of to the another 500 jobare losses cut than costs 2014/15 year up to more andper a review of unprofitable 30 cent, amid good proroutesreshaping and bases. gress the business.

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Liz Parks: Axminster Carpets is well and truly back in business Page 7

1

Somerset gym equipment makers flex their muscles Page 6

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Business Business

2 WEST COUNTRY BUSINESS THURSDAY NOVEMBER 14 2013 WESTERN DAILY PRESS

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Turbine firm drawn to base HQ in Bristol

BY GAVIN THOMPSON gavin.thompson@b-nm.co.uk A Spanish wind turbine manufacturer has chosen to base its headquarters in Bristol as it endeavours to get a foothold in the UK market.

Norvento is a 30-year-old family business that makes 100kw turbines for the “medium wind” market, that used for on-site generation to supply businesses or farms.

The company has signed a lease on premises in Avon-

IKEA GOES SOLAR

For most of us, it’s the place to go for a cheap kitchen, lamp or furniture, but now Ikea has added a new dimension – selling solar panels. The Swedish furniture giant – which has a store in Bristol’ s Eastgate Centre – could become an unlikely player in mayor George Ferguson’s vision to have Bristol become a ‘solar city’. Joanna Yarrow, head of sustainability Ikea UK and Ireland, said: ‘We’re excited to be able to help customers take positive actions at home for both the environment and their wallets. We know that our customers want to live more sustainably and we hope working with Hanergy to make solar panels affordable and easily available helps them do just that.’ Ikea says many people were put off panels because they were ‘ugly’ and did not know if Britain had enough sunshine for them, but it says the panels it sells are more attractive and would save most households £700 a year on their bills.

mouth, from where it will base its technical and servicing team and some sales staff. The centre will also be used for transit and storage of turbines.

Ivo Arnùs, director of business development, said Bristol was the perfect location for the fir m.

“Bristol is an area with good universities,” he said. “It is well connected with Spain with direct flights, it is close to Wales which we think is an interesting and relatively unexplored market and it is the crossroads of the M5 connecting to the North and M4 to London. It makes sense logistically and in terms of human resources as we can recruit engineers here.”

The company is leasing a 4,000 sq ft site and will initially have four people based in Bristol but hopes to quickly expand into double figures.

“We want to sell 50 to 60 turbines a year, so that will mean a bigger operation,” said Mr Ar nùs.

The turbines will still be made in Spain, for now at least, as Mr Arnùs said the business would have to reach “certain economies of scale” before considering investing in manufacturing facilities.

“We are providing highquality jobs and want to work with the universities as we are a very research and development focused company,” said Mr Arnùs.

The company has a roundthe-clock monitoring station in Spain, which will also oversee its UK turbines and, it says, allows it to offer “big wind” levels of service on medium-scale developments.

It believes its nED 100 turbine is ahead of the competition in terms of low noise levels and ease of connecting it to the National Grid.

Norvento has signed agreements with several renewable companies and is looking at sites across the UK.

Fish-and-chips jibe turned into awards success An Airbus employee who spent part of his childhood in a one-bedroom caravan after his father’s business collapsed has been presented with an award by Vince Cable.

Adam Taylor was nominated for the James Caan Award for an Inspirational Young Person by his colleagues and received it as part of the Deputy Prime Minister’s Opening Doors Business Awards 2013, held at Lancaster House in London.

Mr Taylor, 24, was nominated for the award by colleagues at Airbus who recognised his exceptional talent and his determination.

Born in Woolwich, at the time one of south-east London’s most disadvantaged boroughs, Adam is the eldest of three sons whose father was a lorry driver and whose mother left school at 14.

As a child, he was singled out as an underachiever with

Adam Taylor with his award at the ceremony in London

Norvento, a family owned Spanish company, will use its Bristol base to make turbines for the small-to-medium wind market, such as those on farms and homes

special needs, but as a tenyear-old was determined to prove wrong a teacher who told him his only job would be serving burgers and chips in a fast-food restaurant.

But after gaining entry to – and thriving at – grammar school, he graduated with first-class honours in air transport management from Loughborough University and beat 100 applicants for a graduate placement scheme with Airbus.

He said: “I’m not one of those people who finds academic work easy, but I know that if you work hard enough, nothing is impossible.

“I’ve always thought that you can turn a bad experience into a positive by learning to make sure it doesn’t happen again.

“My mum and dad didn’t want me or my brothers to struggle and really pushed us to do as well as we could.

“They have made me who I am today, so this award is theirs as much as it is mine.”

Experiments and experience bring brewer’s skill to a younger market Fresh from his “quarter-life crisis”, master brewer Shane O’Beirne is loving life as the creative force behind a new drink venture.

“Beerd Brewery exists to push the boundaries of quality beer as we know it,” said the 30-year-old head brewer at the Beerd micro-brewery, an arm of Bath Ales which hopes to appeal to the younger beer drinker.

“I love beer. I get a lot of freedom to make different kinds of beer – different flavours and different styles.

“By combining international influences and flavours

with the traditional British brewing techniques, we’re offering drinkers something unique with each brew.”

But it wasn’t always so. Mr O’Beirne was a project management engineer until deciding in his mid-20s that his talents lay elsewhere. Even after training as a master brewer it wasn’t all straightforward.

“I was working for a largescale lager brewer producing the same thing all the time and I hated it,” he explained. But now he has found his calling.

The venture produces ale by five barrels a time (about 850

Beerd on St Michael’s Hill, Bristol, is the arm of Bath Ales targeted at the younger end of the real ale market. Shane O’Beirne is head brewer

litres) and sells them to pubs across Bristol, Bath and beyond, not just Bath Ales establishments or the Beerd pub in St Michael’s Hill. And as a micro-brewery, the range is always changing.

“I produce a new beer about every couple of weeks,” said Mr O’Beirne. Which means customers always have something new to try.

Bath Ales managing director Robin Coulling said the new brand would allow the company to experiment, without messing with its popular core products.

“Demand for quality and

craft beer is rising fast and our core range of beer attracts new drinkers all the time,” he said.

“In the last few years our business has gone from strength to strength. We’ve significantly expanded the brewery to keep up with demand for our quality beer.

“With Beerd Brewery we have created a way for us to experiment with new styles of beer without taking focus away from our core range.

With a distinct identity consumers will know that a Beerd beer offers something interesting, yet still crafted to the very highest standards.”

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WESTERN DAILY PRESS THURSDAY NOVEMBER 14 2013 WEST COUNTRY BUSINESS 3

Ciren’s allure puts it at top of the shops

BY JEFF WELLS wdnews@b-nm.co.uk Retail rents in Cirencester are growing as fast as top London shopping centres, with just two other locations outside London in the top ten.

The Cotswolds town is placed sixth in the country in the latest UK retail breakdown from Colliers International.

Outside London, the only others to make the top ten were Skegness and Lincoln.

Cirencester’s prime rents were up 23 per cent on last year, with Chippenham (10 per cent) and Cheltenham (2.9 per cent) also increasing the Cotswolds’ stock.

But the the autumn/winter market survey highlights a growing divide between the best and worst perfomers, with rent in some centres falling 21 per cent.

Colliers’ head of retail, Nick

23% Increase in prime retail rents in shopping centres Turk, said the Cotswolds continued to set the pace.

“The outstanding success of the area’s retail attractions goes hand in hand with a particularly resilient Cotswolds hospitality sector. It’s remarkable to think the rise in prime rents in Cirencester has kept pace with the major London locations as they have left most of the rest of the UK standing.”

The survey of 421 centres

around the UK showed that positive retail sales growth reported every month this year 2013 – with the exception of April – had helped stabilise rental levels across the UK, with more showing growth or stable rents than decline.

Mr Turk said: “The UK economy is gathering pace and rising consumer confidence coupled with the summer heatwave allowed retailers to capitalise on strong footfall.”

Regionally, the South West finished mid-table, with average prime rents of £81. Selected centres had enjoyed higher prime rents, with Bath leading the pack at £190/sq ft.

But five South West towns witnessed declines of between 13 and 21 per cent.

Yeovil and Bournemouth saw prime rental levels fall 21 and 20 per cent respectively, followed by Taunton, which dropped 17 per cent. The popular resorts of Newquay and Weston-super-Mare saw declines of 16.7 and 13.3 per cent, though Dorchester bucked the trend with a 14.3 per cent rise.

The Colliers International report revealed that Newport was the worst performing location, with rents dropping by 31 per cent to £55/sq ft.

This and other poorly performing towns faced a number of common problems, said Mr Turk, notably out-of-town shopping centres and the online marketplace.

Despite these local setbacks, Nick Turk said the report revealed an unusually upbeat picture for UK retailing.

He said: “A key driving force behind a sustained recovery is consumer confidence, which has improved throughout 2013 and this is reflected in increasing demand for vacant units.”

Food feedback lets diners have their say British diners are famed for their reluctance to voice their criticisms of a meal, no matter how bad.

And now a technology firm from Bristol is hoping that it can steer diners to be more forthright, with a tablet application that allows ratings to be made – and dealt with – on the spot, assuming of course, they put anything other than “great, thanks”.

BSTech’s “How Are We Doing?” system generates live feedback, with customers handed touch-screen tablets and asked to complete a short review of their experience.

The system is the brainchild

Andrew Reynolds of BSTech with his new feedback system

It was a tough job but someone had to do it, and now Seb Smith has finished his summer job testing 186 water slides in 18 water parks at First Choice’s all-inclusive SplashWorld resorts across 15 countries. That equates to a staggering 216 hours of sliding this summer, covering approximately 26.5 miles of slides. He has also notched up 61,690 air miles. To carry out his role Mr Smith, aged 22, from Cheddar, Somerset, has travelled on 32 planes, nine boats, three jeeps, two quad bikes, two camels, a scooter, a bicycle and even a submarine. Now Mr Smith, who studied design and colour technology at the University of Leeds, has been asked to design his ideal waterslide based on everything he experienced. He said: ‘It really has been the greatest job in the world’

Beauty firm hopes to bask in Downton Abbey’s success Billed as the most successful British TV drama of all time, Downton Abbey has revived the fortunes of ITV – and now a Gloucestershire firm is hoping to get some of its glory with the launch of a beauty range.

Gloucestershire firm SLG, which already supplies to high-street names including Boots and Topshop, has signed and exclusive deal to supply Marks & Spencer with the first official range of Downton Abbey beauty products.

The company, which employs 85 people at its factory in Gloucester and 35 at its design and development studios in Montpellier, Cheltenham, hopes to make the most of the timing, which sees a climax to the fourth series of the drama, as well as the run-up to Christmas.

Brad Wald, chief commer-

cial officer with the series producers International Television Production, said: “Marks & Spencer feel this is a great fit for the Downton Abbey brand, and we are confident this beautiful range will appeal to fans of the television show.”

The Downton Abbey gift collection is said to capture the “classic elegance of the Edwardian era” with packaging in gold, emeralds and burgundy.

SLG is a family-owned business founded in 1985 by Graham Dunkley, father of the company’s present owner Miles Dunkley. His business partner is Patricia Topping.

Last month, SLG announced it was moving production of some of its beauty products back to the county from China, creating new jobs for local people.

Mr Dunkley said they were

SLG, which makes beauty products at its base in Gloucestershire, has an exclusive deal with Marks & Spencer to supply Downton Abbey products

delighted to have teamed up with Marks & Spencer and the producers of the series.

“We see this as a perfect fit between the show’s audience and the Marks & Spencer consumer,” he said.

SLG is transferring the production line for its high volume nail polish remover wipe products from the Far East to its Gloucester plant at Kingsholm, creating five new jobs.

The company said it was the reduction in lead times and lower transport costs that made UK manufacturing very attractive for both its existing customers and new ones.

Turnover at SLG has more than doubled of late, growing at 120 per cent over the past four years, from £7.7 million in 2009 to £17 million this year, with a forecasted turnover of £20 million in 2014.

of Andrew Reynolds, who invented the fully managed system for the sector after being asked to transcribe hundreds of handwritten reviews.

Since its launch the system has been taken on board by the Mezze restaurants chain across its South West sites and The Indian Cottage in Penhow, South Wales, with Mr Reynolds saying that a trial had seen a 25 per cent increase in bookings at one venue.

He said: “I realised that there was a niche in the market for an electronic real time review process rather than people filling in customer cards or using internet reviews sites.

“Customers love the touchscreen technology and the venues say it is having a huge impact on the way they manage their business and with customer retention.

“It also gives customers the option of subscribing to the venue so they can stay in touch and receive news of the latest events and offers via email campaigns.”

4 WEST COUNTRY BUSINESS THURSDAY NOVEMBER 14 2013 WESTERN DAILY PRESS

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Lyneham jobs boost amid region’s drop TRISTAN CORK tristan.cork@b-nm.co.uk The first wave of new jobs created by the Government’s £230 million plan to create a major military college in the West arrived yesterday – on the day when unemployment rose across the region.

Amid little fanfare, the Ministry of Defence this week began advertising large numbers of jobs for tradespeople to work on the mammoth task of upgrading and converting hundreds of homes in the north Wiltshire village of Lyneham, where the former, famous, RAF base is being transformed into Britain’s first tri-service defence technical training college.

The old base’s accommodation dates from the 1960s and 1970s and although much of it was sold off at the turn of the millennium, the military still own hundreds of homes inside and outside the base, which will accommodate thousands of college staff and the stu-

6.4%

Unemployment rate in the South West from July to September

£90m

Estimated cost to north Wiltshire of the closure of RAF Lyneham dents who will attend the training facility every year.

The MoD won planning permission for the massive project earlier this autumn, and has already begun signing up major contractors to do the physical work of demolishing buildings and building new ones.

But the work of converting and creating new homes and accommodation is being done in partnership with a local housing association, and adverts for a huge team of plumbers, plasterers, decorators, electricians, tillers and gas fitters have been published this week.

Local councillor Allison Bucknell heralded it as great news, and said council chiefs had pressed hard for the MoD to employ as many local people as possible. The loss of the RAF base, which was home to the Hercules transport plane, was estimated to have cost the North Wiltshire economy as much as £90 million a year.

But while north Wiltshire experienced good jobs news yesterday, the South West generally took a knock. Unemploy-

ment in the region increased by 11,000 in the three months to September, official figures have revealed.

The jump is a shock in the region, which usually sees a fall in the unemployed during the tourist-busy summer months. The South West also bucked the national trend, which saw unemployment fall across the country.

The region has been hit with even more bad jobs news since the period the figures applied to. Since September, hundreds of job losses have been announced at Bristol City Council, and at the Exeter base of budget airline FlyBe. The poor figures for the region were put down to sluggish growth in the private sector in the South West, and to the ongoing hit from local authority and other publicsector cuts. During the three months the figures were counted, Wiltshire Council shed hundreds of jobs.

The Office for National Statistics (ONS) showed that a total of 173,000 people were unemployed in the region between July and September.

The region’s unemployment rate was 6.4 per cent and saw a rise of 6.8 per cent during the period.

The number of people in work nationwide has reached an all-time high of almost 30 million, but a record number are working part-time because they cannot find full-time jobs, the figures show.

The national employment total is the highest since records began in 1971 after a huge increase of 177,000 between the three months to June and the quarter to September.

At the same time, unemployment nationally fell by 48,000 to 2.47 million, the lowest since the spring of 2011, while the number of people claiming jobseeker’s allowance was cut for the 12th month in a row in October, down by 41,700 to 1.31 million, the lowest for almost five years.

The number of people classed as economically inactive, including those looking after a sick relative, or people who have given up looking for work, also fell – down by 69,000 to 8.92 million.

But other data from the ONS showed that 1.46 million people were working part-time because they could not find a full-time job, an increase of 24,000 over the quarter, and the highest figure since records began in 1992.

Almost a third of working men are in part-time employment because they cannot find a full-time job, compared to 13 per cent of women.

The number of men and women working full-time increased, but there was a 22,000 fall in women in part-time jobs.

Wyke Farms, the UK’s largest independent cheese producer, has honoured its Master Cheese Grader as he marked 50 years of selecting and grading cheese at Wyke Farms. Master Cheese Grader, Nigel Pooley, has graded over 1.4 million tonnes of cheddar at Wyke, playing an integral part in ensuring the quality of Wyke Farms’ cheddar. So valued is Nigel’s nose that the Somerset firm has insured it for £5 million with insurance firm Lloyds of London

Sainsbury’s celebrates continued growth as it shrugs off budget rivals

Sainsbury’s Taste the Difference range has been one of its strongest performers, hitting double-digit growth as own brands outperform branded goods

Sainsbury’s yesterday reported a half-year profits haul of £400 million after its share of the grocery market rose to the highest level in a decade.

The chain, which operates more than 1,100 supermarkets and convenience stores, said the performance for the 28 weeks to September 28 was up 7 per cent on a year ago.

Sainsbury’s has been the only one of the big four supermarkets to grow its market share amid pressure from discounters Aldi and Lidl.

It now accounts for 16.8 per cent of the market, having achieved 35 consecutive quarters of underlying sales growth.

Own-brand sales are growing at twice the rate of branded goods and the supermarket’s Taste the Difference range has seen double-digit growth.

The company added 393,000 square feet of new space

through six supermarkets, 50 convenience stores and two extensions, meaning overall halfyear sales were 4.4 per cent higher at £13.9 billion.

Stripping out new store space, sales rose by 1.4 per cent on a year earlier, although the chain expects this rate to come under pressure as it faces tougher comparables with a year earlier.

Chief executive Justin King also warned that customer budgets remain tight and that the economic recovery may take time to translate into stronger household confidence.

Shares were more than 1 per cent higher yesterday after the half-year profits figure came in at the top end of City forecasts.

Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, said:

“Without question, this is a strong performance from a resurgent Sainsbury, even though clouds remain on the investment horizon.”

He warned that intense competition, commodity prices and the company’s sole UK focus limited its scope for further expansion.

The company is on track to meet its full-year target for one million square feet of new space but said a review of its property pipeline has identified some sites where it no longer wants to build a supermarket. This resulted in a one-off write-down of £92 million in yesterday’s results.

Sainsbury's said online grocery sales were now growing at over 15 per cent, with an annual turnover of more than £1 billion. It is also meeting its target of opening two convenience stores per week, meaning its number of smaller stores will overtake supermarkets later this year.

The company quoted industry figures showing that its Sainsbury’s Local stores account for nearly one third of the UK’s convenience market growth, with sales of nearly £1 billion in the half-year.

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WESTERN DAILY PRESS THURSDAY NOVEMBER 14 2013 WEST COUNTRY BUSINESS 5

Fashion chain looks to expand after profits lift

Study points to class divide in our universities

Fashion retailer New Look, which has its roots in the West Country, has reported a successful second half, returning to profit after a dismal first half in which it lost £13.6 million.

The Weymouth-based firm, which began its life in Taunton in 1969, has been heavily involved in a refurbishment project, and has also set out its intentions to expand overseas, with six stores in China agreed and set for opening in 2014.

Gross earnings rose by 19.3 per cent to £103.7 million, with a profit figure before tax of £13.8 million, a massive tur naround Group revenue was up by 6 per cent to £753.2 million, up from £710 million, and driven in large part by a massive growth in the business’s online sales of 78.8 per cent, with growth of 5.9 per cent on its own website.

In Poland, New Look wants to buy out its local franchise partner and in Russia it is aiming to move from a franchise to a joint-venture so it can accelerate expansion.

In Germany, New Look has ten concessions in department stores but now says that it wants to open its own stores.

In all four markets – and France, where New Look owns the Mim chain – the retailer is also planning to open local language websites after enjoying

Working-class teenagers are around three times less likely to go to a top university than their richer classmates, even though they may have the grades to win a place, research suggests.

A new study concludes that the difference in the numbers of advantaged and disadvantaged youngsters going to university is not just down to their academic achievement at school.

It argues that some of the discrepancy is “unexplained” and it could be that many students from lower-income families with decent grades may be choosing to go to other universities.

The study, commissioned by the Sutton Trust, looked at the numbers of children from different backgrounds going to top universities in England, the US and Australia.

It found that in England, children with professional parents are about three times more likely to attend a Russell Group institution – considered among the best in the country – than those from working-class homes.

About 73 per cent of this gap was down to the pupils’ previous academic achievement, the study concluded. But this means that more than a quarter of the difference cannot be explained in this way.

“This suggests that there are significant numbers of working-class children who, even though they have the academic ability to attend, choose to enter a non-selective institution instead,” the research found.

The study notes that at the top English universities only one in eight young undergraduates come from “lower” occupational backgrounds, compared to more than half at some of the newer institutions.

More than two-fifths of students at Oxford and Cambridge went to private school while at some of the modern universities the figure is two or three per cent, the report said.

The study is due to be presented at a Sutton Trust summit on university access, and the trust’s chairman Sir Peter Lampl said: “This new research confirms that there are many able children either not applying or not being admitted to the best universities, and this is true internationally.”

Dr Wendy Piatt, director general of the Russell Group, said: “It is also the case that some very bright students are not encouraged to apply for leading universities.

We cannot offer places to those who do not apply or who have not done the right subjects to study their chosen course.”

A Business Department spokeswoman said: “We want everyone with the desire and talent to be able to study at university, irrespective of their background.

“Last year the proportion of disadvantaged English 18year-olds applying to university was at its highest level.”

1969

The year in which New Look opened its first store – in Taunton

Exhaustion takes toll on bank’s stressed executive Former top City regulator Sir Hector Sants has resigned from his post in charge of compliance at Barclays after being signed off work last month with stress and exhaustion.

Barclays said Sir Hector, who was on sick leave until the end of the year, stepped down after deciding he would not be able to return to work in the near term.

His departure comes less than a year after he took on the role of head of compliance, government and regulatory relations at the scandal-hit bank – a post he took on after a gruelling five years at the helm of the Financial Services Authority (FSA) in the run up to and throughout the financial crisis.

Antony Jenkins, group chief executive at Barclays, said: “Although only with us for 10 months, he has made significant progress towards creating a world class compliance function at Barclays and in

improving our relationships with regulators and governments. I know my colleagues will join me in expressing our appreciation to Hector, as well as wishing him a speedy recovery.”

The compliance role left by Sir Hector is seen as a key part of the overhaul being led by Mr Jenkins.

Barclays has launched the search for a permanent replacement for Sir Hector, with Allen Meyer, head of compliance, corporate and investment banking, taking on the job on an interim basis.

Sir Hector’s health woes come after Lloyds Banking Group chief executive Antonio Horta-Osorio also took two months off at the end of 2011 due to sleep deprivation and exhaustion. The bank is also looking for a chief operations and technology officer following the resignation of Shaygan Kheradpir to become chief executive of a firm in the US.

Top, former top City regulator Sir Hector Sants, who has resigned from his post in charge of compliance at Barclays after being signed off work last month with stress and exhaustion. Above, Antony Jenkins, group chief executive at Barclays

success via Asos, the online fashion store, where sales rose 78 per cent during the half, with two-thirds of sales overseas.

Anders Kristiansen, chief executive officer, said: “Our strategy is delivering, and there is real momentum in the business. I am particularly pleased with the margin improvement brought about by our continued focus on cost control, tight stock management and reduced discounting.

“E-commerce continues to power ahead. The improved functionality of our site and enhanced delivery options have been well received by customers and we are continuing to invest in this very important part of our business.

“Internationally the opportunity is huge. We are doing our due diligence carefully but we are on track to open our first Chinese store by spring 2014.

“In line with the rest of the sector, current trading is more challenging and as yet we are not seeing any benefits of economic recovery feed through to our customers’ pockets.

However, we are confident that the strength of New Look’s offer, namely our product, our website, our stores and our people, means that we are well placed for the busy Christmas trading period and beyond.”

A new study has concluded that working-class teenagers are around three times less likely to go to a top university than their richer classmates, even though they may have the grades to win a place.

The study, commissioned by the Sutton Trust, found that in England, children with professional parents are about three times more likely to attend a prestigious Russell Group institution than those from working-class homes

6 WEST COUNTRY BUSINESS THURSDAY NOVEMBER 14 2013 WESTERN DAILY PRESS

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Winemaker honoured with organic award A winemaker who began his career making cider sold at the first Glastonbury festivals has been recognised for his contribution to the organic movement.

Somerset winemaker Hugh Tripp was among a group of growers and farmers given a plaque by Monty Don, president of the Soil Association, at its annual conference in London.

Mr Tripp first planted vines at his property in East Pennard in 1981. He was determined not to resort to sprays – against advice – and had the good fortune to plant the variety Seyval, which is naturally resistant to mildew.

Ignorant of this, Mr Tripp chose this variety because he liked the Seyval wine from

Hugh Tripp selling his wines at a food festival in Burnham on Sea

Tom Hanks, starring in Captain Phillips, comes face to face with modern-day pirates. He would have been glad of a new device developed by a company in Dorset to deter unwelcome intruders.

The invention has received backing from Exeter-based ‘crowd funding platform’ Crowdcube, and more than 80 investors pledged £100,000 to The Guardian, a plastic fitting that prevents grappling hooks from taking hold on the railings of a ship. The device was created by Portland-based Marine & Auto Security Solutions. The funding will be used to market the product internationally and enable the company to build up stocks in the Middle East and Far East to reduce delivery times. Inventor Teresa Stevens said: ‘It is far safer, cheaper and more effective than the razor wire, water jets and armed guards currently used by ship owners’

Wootton Vineyard, but it started Avalon Vineyard on the road to certified organic status in 1987.

At that time “organic” wine was virtually unknown, so Mr Tripp was something of a pioneer. Since then, it has hugely grown in popularity and even the EU has come to recognise it.

Mr Tripp was a keen cidermaker back in the 1970s, joining a small co-operative at Worthy Farm, Pilton, using an old, hand-turned press.

So a new cider orchard was planted at Avalon, with soft fruits planted between the apple trees. These fruits prompted diversification into a whole range of fruit wines, mead and finally liqueurs. All have proved useful when the Seyval vine, sometimes a shy cropper, has a poorer year.

The Pennard Quality Sparkling Wine 2010, made by the traditional “champagne” method, is available from their shop at East Pennard.

Charity finance: health and wealth for wise

BY NIGEL MORRISON Advisory partner, Grant Thornton In straitened times, with continued public-sector cuts, many charities are squeezed.

Charities that get publicsector funding are increasingly finding pressure on working capital – contracts with some local authorities, which have historically been paid in advance, are moving to payment in arrears, along with an element of payment by results. This often causes a tightened cash position where the biggest overhead is staff and there is limited opportunity to alter payment patterns.

Many charities’ boards are

Nigel Morrison of Grant Thornton says charities should not reject finance by default – though it should still be used wisely

reluctant to source external finance, in contrast to the commercial, housing and education sectors, where this approach is commonplace. With many trustees having a commercial background in their ‘day jobs’ it is perhaps surprising. So why are some cautious of financing arrangements?

Some charities’ gover ning documents do not allow them to borrow unless in respect of land transactions. Although there are provisions under the Charities Act 2011 to increase powers to borrow, some trustees may be unaware of this or choose to rely on generated funds, rather than finance.

Additionally, granting security over a charity’s assets can be complicated from a regulatory point of view and may be something trustees are reluctant to do.

All charity boards should refer to their constitution before undertaking any financing decisions to ensure they act within their powers, and should also be aware that it is possible to rewrite the constitution to allow borrowing.

There is also the element of risk. Where a charity is unincorporated, there is a possibility that the trustees will become liable if the charity is unable to repay debts, so the trustees may choose to avoid

borrowing. For some charities, the board position can then become that they will not consider finance in any form, common among unincorporated smaller charities, where it is rare to see borrowings of any type on their balance sheets.

Trustees should seek advice on any matters where they are not experts, or they could be regarded as having acted imprudently. A large array of financing options can overwhelm trustees, who opt for what they see as the safest option: no finance in any form.

But this may not be the best course. After all, it is trustees’ responsibilities to act in the

best interests of the charity and in line with its objectives, which finance may allow.

Most banks have specialist not-for-profit teams who understand the unique challenges charities face when considering finance. Although historically it has been unusual for charities to borrow, charity finance is becoming more commonplace although, like commercial borrowing, the finance should be sought for a specific requirement and supported by a robust plan.

Where charities are open about their plans and rationale, funders and donors are able to understand and support their strategy.

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Quedam ‘has key to town’s retail success’

BY JONATHAN TAYLOR wdnews@b-nm.co.uk A thriving Quedam shopping centre will act as a catalyst for the regeneration of Yeovil’s economy, say the men charged with the centre’s rejuvenation following its £15.1 million sale last week.

Nigel Poad and Andy Bailey, of Insite Asset Management, which is managing the centre on behalf of new owner Benson Elliot, have promised to sign up brands “never seen before” in the town.

Managing director Mr Poad said: “One of the reasons our

£15m

Sum for which the Quedam was last week sold to Benson Elliot client bought the Quedam shopping centre is because he saw a great opportunity to build something.

“We don’t regard this as just a property asset, it’s a living place which plays a large part in local people’s lives. The Quedam is not about the bricks and mortar – it’s about the customers and the retailers. The fundamental purpose of the shopping centre is to serve the people of Yeovil.

“We sense the responsibility which we have to act as a catalyst for the regeneration of Yeovil and we believe that a successful Quedam will help create a successful town centre.”

Benson Elliot’s acquisition of the shopping centre from UBS Global Asset Manage-

ment (UK) Limited forms part of its “reach for the regions” campaign, where the company hopes to regenerate “unloved” town centres.

Extending the Quedam to house a major department store and filling all of the vacant units are among the company’s plans for Yeovil.

Negotiations to buy the shopping centre took time – but Mr Poad said extensive research was carried out among local shoppers and retailers for more than six months.

He said: “We first came down here in April and it has taken a long time, but that’s expected in the market we’re working in. Our client has his eyes wide open and sees great potential. Yeovil has so many things in its favour.

“You can’t own and run a successful shopping centre without knowing what the customers want and seeking to deliver that.”

The future of some of the Quedam’s main clients was shrouded in uncertainty this year as the international recession threatened to claim a host of national chains.

HMV went into administration in January, while 14 jobs in Yeovil were lost in 2012 when Peacocks went into administration after it failed to restructure £240 million of its total £750 million debt.

Director Mr Bailey said: “The press often focuses on retailers going bust and shops closing down. However, HMV chose Yeovil as one of the stores to remain open. Peacocks also went bust but reopened in Yeovil.

“They had the chance to ditch these stores but didn’t as they saw the town’s potential.”

Fast way to save Waitrose takes time and money on town Co-op Super-fast broadband will save British households a total of £270 million and 60 million hours of leisure time each year by 2024, a new report predicts.

Better connectivity would help more people save cash by avoiding commuting and cut annual business travel by 3.3 billion miles (5.3 billion km) a year – around 9 per cent of the current annual UK total – research on the Government’s broadband investment states.

A net employment rise of about 56,000 jobs by 2024 is also predicted although this figure has a relatively high degree of uncertainty.

The findings are contained in the UK Broadband Impact Study Impact Report, by analysts SQW with Cambridge Econometrics.

Waitrose is set to open a store in Keynsham next year, replacing the Co-operative on Broadmead Lane.

The store will close in February next year and will reopen as Waitrose a month later.

The company confirmed all 84 staff at the shop will be offered the opportunity to join Waitrose and become partners in the John Lewis Partnership. Waitrose is also hoping to create jobs.

Director of development at Waitrose, Nigel Keen, said: “We have wanted to open a shop in Keynsham for a long time and are looking forward to becoming part of the local community.”

There had been speculation that Waitrose would be part of the Somerset town’s central redevelopment.

Rates hint lifts sterling amid US uncertainty YESTERDAY IN THE CITY Speculation that interest rates will rise sooner than expected fuelled by a more optimistic tone from the Bank of England lifted the pound yesterday.

Governor Mark Carney said the “recovery has finally taken hold”, adding that the Bank expects the 7 per cent unemployment rate threshold for a possible interest rate rise will be reached earlier than it had thought in August.

While the message helped lift sterling, the FTSE 100 Index tumbled by more than 1 per cent, or 96.8 points, to 6630, also affected by fears over monetary policy in the US. The pound was up one cent at US$1.60 at the close in London, while it also made gains against the single currency, climbing by a cent to reach 1.19 euros.

Mr Carney sought to stress that the 7 per cent unemployment threshold governing the Bank’s forward guidance policy on interest rates was merely a staging post.

But it was not enough to reassure the City, where it is widely expected that they are in line to rise in 2015.

The wider slump was also fuelled by continued uncer-

2015

Year in which interest rates are thought likely to climb

The Quedam showcase last year. Yeovil has managed to keep hold of HMV and Peacocks, despite the two chains getting into serious financial difficulties in the last year

Seafront flats opportunity offered Axminster mill put up for sale

Developers are being sought to take on a site in Weston-super-Mare, close to the seafront and with permission for 41 flats. The Lynton House Hotel in Madeira Road occupies a 0.38-acre site and is being marketed by Flax Bourton-based CJH Land at £750,000 freehold.

An industrial building that formerly housed Axminster Carpets’ Buckfastleigh spinning mill is for sale.

Alder King have been instructed by Buckfast Abbey to market the former Riley Building, a 112,880 sq ft site built in 1989. It is among a number of buildings on a tenacre site next to the grounds of the Benedictine abbey, which acquired the site from administrators after Axminster Carpets fell into administration in March.

The carpet business and its Axminster-based operations were acquired by investors in a separate rescue buyout.

The Abbey has retained ownership of the remaining buildings, which also include a historic mill building, built by entrepreneur Samuel Berry in the early 1800s.

tainty over when the US Federal Reserve will begin the tapering of America’s huge asset-buying programme, which has nursed it out of recession.

On Wall Street, the Dow Jones Industrial Average was also in the red, while French and German bourses saw declines too.

In London, heavyweight fallers included Barclays, which declined 7.3p to 249.5p, while oil giant Royal Dutch Shell fell 56.5p to 2108.5p.

BSkyB also remained under pressure – down 35p at 805p – after its failure to land Uefa Champions League rights from 2015. ITV, which also missed out in the auction to BT, fell 6.5p to 181.8p.

Supermarket chain Sainsbury’s defied the weak trading conditions in the FTSE 100 Index to climb by 3 per cent, up 11.9p to 410.7p.

This was after a better-thanexpected 7 per cent rise in profits to £400 million for the six months to September 28 underlined its reputation as the best performing of the big four supermarket chains.

The biggest FTSE 100 risers were Sainsbury’s, up 11.9p to 410.7p, Centrica up 3.5p to 363.9p, United Utilities up 3.5p to 692p and easyJet up 6p to 1233p.

The biggest FTSE 100 fallers were RSA Insurance, down 5.3p to 104.1p, BSkyB down 35p to 805p, Persimmon down 46p to 1154p and ITV down 6.5p to 181.8p.

8 WEST COUNTRY BUSINESS THURSDAY NOVEMBER 14 2013 WESTERN DAILY PRESS

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FTSE 100 Index

POUND ABROAD EURO DOLLAR AUSTRALIA BRAZIL CANADA CHINA

West stocks highlighted

6740

1.13 euro 1.52 dollars 1.62 dollars 3.31 reals 1.59 dollars 8.65 yuan

HONG KONG 11.69 HK dollars INDIA 88.97 rupees JAPAN 150.58 yen SOUTH AFRICA 15.40 rand SWITZERLAND 1.39 francs TURKEY 3.08 lira

WEDNESDAY

6700 6660 6620 Close - Down 96.79 at 6630.00

6580

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10

9

11

12

Major movers

Price

+/-

AEROSPACE & DEFENCE Avon Rubber 5511/2 -2 BAE 4471/4 -43/4 1 Chemring Group 205 /4 -3 Cobham 2683/8 +11/4 Meggitt 5051/2 -5 QinetiQ 1963/4 -1/2 Rolls-Royce 1210 -3 Senior 2871/2 -1/4 Ultra Electronics 1880 -27

Year High

5591/2 468 3211/8 3073/4 5721/2 2111/8 1240 300 1981

Year Low

3291/2 3003/4 2051/4 1921/4 3683/8 179 8441/2 1857/8 1505

AUTOMOBILES & PARTS GKN 3625/8 -23/8 3761/4 201 Torotrak 253/8 -15/8 351/2 231/2 BANKS Barclays Bk of Ireland HSBC Lloyds Banking Gp Royal Bank of Scotland Standard Chartered

249 /2 225/8 6831/4 75 3247/8 1448 1

-7 /4 333 /8 234 /4 -1/4 227/8 77/8 -13 7697/8 5953/4 -11/8 803/8 44 -63/4 3847/8 2661/8 -371/2 18371/2 1395 1

7

1

BEVERAGES Barr (AG) Britvic Diageo SABMiller

523 +11/2 5881/2 4551/2 585 -9 625 386 19921/2 -22 21361/2 1787 31671/2 -471/2 3657 2619

CHEMICALS Carclo Croda Intl Elementis Johnson Matthey Porvair Synthomer Treatt Victrex Zotefoams

350 -3 501 3423/4 2341 +9 2841 2251 2483/4 -51/2 275 2091/4 3004 -50 3059 2190 2721/4 +1 2981/2 139 2237/8 -91/8 2573/4 1601/2 5971/2 6321/2 367 1563 -21 1765 1458 181 224 1801/2

CONSTRUCTION & MATERIALS Alumasc 1291/2 -1 137 Balfour Beatty 2663/4 -73/4 2911/2 Boot (Henry) 194 -31/2 201 181/2 Boustead 181/2 Clarke (T) 64 -21/2 721/4 Costain 2883/4 -73/4 306 CRH 1582 -27 1609 Galliford Try 1116 -8 1157 Gleeson (MJ) 3151/4 -33/4 3543/4 Keller Group 977 +12 1161 Kier Group 1688 -120 1830 Kingspan Group 11033/8 +41/4 10991/8 80 Low & Bonar 751/4 Marshalls 174 -51/2 184 1 1 Morgan Sindall Gp 825 -14 /2 839 /2 North Midland Const 149 149 Pochins 38 391/2 451/2 Titon 431/2 ELECTRICITY Drax Gp SSE

82 2075/8 131 181/2 413/4 227 1090 678 1521/2 6071/2 1115 607 50 961/2 508 95 23 22

653 +161/2 7171/2 5241/2 1399 -6 1676 1364

ELECTRONIC & ELECTRICAL EQ Dialight 8991/2 +1 1399 Domino Printing Sci 673 -81/2 717 Eurodis Electron 1 1 Halma 566 -61/2 578 1 3 3 Laird 247 /8 -3 /8 253 /4 Morgan Advanced 2951/2 -21/2 318 Oxford Instruments 1458 +33 1752 Renishaw 1754 -1 2081 7 /8 13/8 Ross Group Spectris 2283 -36 2470 TT Electronics 191 -1 202 Volex 1163/4 -11/4 157 1 1 Xaar 945 /2 +30 /2 9451/2 XP Power 1570 -12 1605

897 5321/2 1 4111/2 1 171 /8 2401/4 1209 1494 1 /2 1773 114 84 263 955

EQUITY INV INSTRUMENTS Aberforth Smaller Cos 9871/2 -131/2 Alliance Trust 4411/2 -41/4 Bankers IT 573 -7 BlackRock Wld Mining 4623/8 -157/8 British Assets Trust 1401/2 -13/4 British Emp Secs&Gen 486 -41/8 Caledonia Investment 1878 -22 City of London IT 368 -4 Dexion Absolute 1533/4 -21/4 Edinburgh Inv Tst 578 -3 Electra Private Equity 2270 -2 Fidelity Euro Value 1518 -19 Foreign&Colonial 3751/2 -51/2 JP Morgan Japan IT 241 -1 JPM Euro IT Gwth 218 -3 Mercantile IT 1477 -13 Merchants Trust 497 -8 Middlefield Canadian 103 1 Monks Inv Tst 386 -5 /4 Murray Income Tst 778 -14 Murray International Tst 1082 -14 North American Inc 860 -10 Perpetual Inc&Grwth 3495/8 -13/8 RIT Cap Partners 1244 -25 Scottish Inv Tst 5851/2 -71/2 Scottish Mortgage 9641/2 -231/2 SVG Capital 3893/8 -71/8 Temple Bar IT 1217 Templeton Emerging Mkts 554 -121/2 -5 Witan Inv Tst 6471/2

655 3633/4 427 4241/2 1163/8 448 1457 3033/4 137 4861/2 1795 1174 3041/4 1541/2 161 1020 3611/2 991/2 300 6561/2 9821/2 6671/2 2751/2 1109 464 6671/2 2641/2 961 514 474

1014 4641/4 586 6221/2 1433/4 522 1970 3763/4 156 621 2398 1569 383 2473/4 224 1519 515 115 395 820 1245 9151/2 364 1285 606 1023 416 1241 678 6601/2

Price

+/- Year High

Year Low

FIXED LINE TELECOMS BT Group 3747/8 -21/4 3785/8 219 -1 483/8 341/4 Cable & Wire Comm 473/8 Colt Group 1261/2 -2 1351/2 931/2 1 KCOM 105 /8 +1 1051/8 681/4 Talktalk Telecom 2773/4 +23/8 2773/4 208 Telecom Plus 1490 -39 1573 8441/2 FOOD & DRUG RETAILERS Greggs 4521/4 -1/4 Morrison (Wm) 274 -3/4 Sainsbury (J) 4103/4 +117/8 Tesco 3643/4 -21/8 Thorntons 115 -1/2

5231/2 3021/2 4103/4 3873/4 117

3921/8 2485/8 3217/8 315 285/8

FOOD PRODUCERS Anglo-East Plantations 639 -341/2 750 630 Assoc Brit Foods 2264 -7 2271 1386 Carr's Milling 1635 -40 1760 950 Cranswick 1118 +4 1189 733 Dairy Crest Group 520 -13 539 3487/8 Devro 320 +13/4 380 2897/8 Glanbia 886 -7/8 9271/8 636 Greencore Gp 1867/8 -71/2 1945/8 883/4 Kerry Group A 39171/8 -8 40313/4 31591/8 Premier Foods 129 -3 1851/2 593/4 3 3 REA Hldgs 430 /4 + /4 4843/4 3591/4 Tate & Lyle 814 -7 883 7361/2 Unilever 2459 -28 2885 2290 FORESTRY & PAPER Mondi 1010 GENERAL FINANCIAL 3i Group 3703/4 Aberdeen Asset Mgt 4067/8 Brewin Dolphin 278 Close Bros Group 1231 F&C Asset Mngmt 94 Guinness Peat 31 Hargreaves Lansdown 1149 1 Henderson Group 216 /4 ICAP 3913/4 IG Group 624 Intermediate Capital 4741/2 Investec 4173/4 IP Group 150 London Stock Exchange 1555 Man Group 831/4 Paragon 331 Provident Finl 1563 Rathbone Brothers 1538 Schroders 2468 Schroders NV 2005 Tullett Prebon 3121/4 World Trade Systems 41/2

1122

625

-121/4 -10 -1/4 -17 -11/4

3871/2 4921/8 2871/4 1300 1103/8 331/2 1190 2233/8 4221/4 6261/2 5011/2 5131/2 1585/8 1682 1343/8 3545/8 1773 1691 2690 2217 3957/8 41/2

2053/4 3285/8 1693/4 8331/2 90 231/2 1 679 /2 1091/8 2803/4 4163/4 2871/4 3723/4 1051/8 930 713/4 2381/4 1287 1208 1518 1236 219 41/2

-20 -33/4 +151/2 -21/2 -103/4 -93/8 -2 -50 3 -1 /4 -41/2 -26 -18 -34 -18 -25/8

GENERAL INDUSTRIALS British Polythene 733 REXAM 5181/2 RPC 4791/4 Smith (DS) 2915/8 Smiths Group 1407 GENERAL RETAILERS Alexon 27/8 Ashley (L) 261/2 Beale 10 Brown (N) 514 1 Caffyns 492 /2 Carpetright 6231/2 Carphone Whse 256 Darty 881/2 Debenhams 1007/8 Dignity 1367 Dixons Retail 473/4 Dunelm Group 8841/2 Euro Home Retail 21 Findel 255 Flying Brands Units 41/8 French Connection 387/8 Halfords 4725/8 Home Retail 1941/8 Howden Joinery Gp 3241/8 HR Owen 1581/2 Inchcape 609 JD Sports Fashion 1210 Kingfisher 3891/2 Lookers 130 Mallett 781/2 Marks & Spencer 4891/4 Moss Bros Group 72 Mothercare 396 Next 5450 Pendragon 38 Signet Jewelers 4802 Ted Baker 1790 Topps Tiles 893/4 WH Smith 980

-35

+3 733 383 -81/2 5471/2 4305/8 -13 517 378 -41/8 3081/4 1971/2 -21 1455 1018 27/8 -1 291/2 201/2 -61/2 577 5371/2 -17 700 -8 266 -1 891/2 -13/8 1177/8 -21 16871/8 +7/8 49 -51/2 1047 21 +1 2581/4 +13/8 6 -15/8 421/2 -43/8 4863/8 -21/2 2011/8 -23/4 332 1723/4 -10 645 -12 1222 -3 420 -1 131 +1 841/2 -87/8 5131/2 75 -5 4923/4 -30 5540 393/4 -23 4934 -10 2017 -11/8 95 -8 992

27/8 24 91/2 339 365 585 188 39 783/4 1034 243/4 613 21 108 23/8 231/2 299 1043/4 1611/2 61 3981/2 670 2687/8 72 611/2 359 531/2 271 3542 133/4 3217 947 47 609

HEALTH CARE EQPMNT & SERV Bioquell 147 +2 160 130 Consort Medical 881 -6 914 6601/2 Smith & Nephew 8041/2 -11/2 806 6401/2 1 Southern Cross 6 /4 61/4 61/4 Healthcare Synergy Healthcare 1051 -11 1165 921 UDG Hlthcare 3045/8 -17/8 3605/8 231 HOUSEHOLD GOODS Aga Rangemaster 1221/2 -31/8 1353/4

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Price

Barratt Developments Bellway Berkeley Grp Hldgs Bovis Homes Gaskell Headlam Group McBride Persimmon Reckitt Benckiser Redrow Taylor Wimpey Victoria

312 1414 2197 751 21/4 3963/4 110 1154 4748 2657/8 1033/8 254

+/- Year High

-151/4 3551/4 -46 1534 -71 2450 -361/2 8511/2 21/4 -23/4 415 +1/2 1463/4 -46 1305 -88 4950 -53/4 2753/8 -35/8 1137/8 +11/2 254

INDUSTRIAL ENGINEERING Assoc Brit Engineering 140 Bodycote 647 -121/2 Castings 4551/2 Fenner 415 +73/4 Goodwin 3580 -120 Hill & Smith 5101/2 -31/2 IMI 1498 -12 Melrose Ind 3091/8 -71/8 Molins 1871/2 -5 MS Intl 1781/2 -1/2 1 1 Renold 39 /2 -3 /2 Rotork 2866 -4 Severfield-Rowen 65 Spirax-Sarco 2906 -30 Tex Hldgs 751/2 Trifast 841/2 -23/4 Vitec Group 698 -2 Weir Group 2200 INDUSTRIAL METALS First Quantum Minerals 1104

-55

Year Low

1811/4 951 1501 4891/4 21/4 3021/2 101 745 3704 154 565/8 1871/2

145 115 685 3623/4 4551/2 291 4351/4 3057/8 3820 1600 514 3871/2 1563 942 3213/4 2067/8 194 134 2611/2 172 46 17 3037 2320 1 1 120 /2 37 /4 3090 21891/8 821/2 521/2 871/4 431/4 726 559 2474 1710

1399 8721/2

INDUSTRIAL TRANSPORTATION BBA Aviation 3343/8 -71/4 3435/8 1953/4 Braemar Shipping 546 -7 555 350 Clarkson 2088 -12 2370 1150 Fisher (J) 1096 -2 1148 7831/2 Irish Continental Units 21815/8 +1/4 21983/8 14851/8 Ocean Wilsons 1098 +3 11571/2 8971/2 Stobart Gp Ord 1371/4 -3/4 148 741/2 UK Mail Gp 577 -101/4 645 280 Wincanton 124 -11/4 139 433/4 LEISURE GOODS Games Workshop Hornby Photo-Me

770 -41/2 8231/2 84 +21/2 871/2 144 +23/4 145

601 59 49

LIFE INSURANCE

Aviva Hansard Global Legal & General Old Mutual Prudential Resolution St James Place Standard Life

431 /4 100 2097/8 1973/8 1243 3441/8 6411/2 3353/4

MEDIA 4imprint Bloomsbury Pub BSkyB Centaur Media Chime Comms City of London Group Creston Daily Mail A Euromoney Instl Inv Future Haynes Publishing HIBU Huntsworth Indep News&Media Informa ITE Group ITV Johnston Press Moneysupermarket.com Pearson Quarto Group Reed Elsevier Rightmove STV Group Tarsus Group Trinity Mirror United Business UTV Wilmington WPP

618 173 805 56 3111/4 51 961/2 816 1120 161/4 196 1 /8 651/2 83/4 5571/2 303 1813/4 14 186 1301 161 8731/2 2510 3191/2 249 138 6941/4 214 222 1307

-11/2 650 335 -31/2 1803/4 102 -35 950 745 +1/4 60 31 -53/4 324 2083/4 1 -1 75 50 /2 -3/4 109 751/4 -5 835 4561/4 +5 1209 7471/2 213/8 121/4 196 157 1 1 /2 /8 67 37 103/4 21/2 -71/2 5681/2 3801/2 +3/4 3221/4 190 -61/2 1951/8 92 -5/8 19 113/4 3 +2 221 142 /8 -10 1365 1119 1621/2 137 -141/2 888 6021/2 -93 2652 1436 -1 330 100 -23/4 2521/4 1773/4 +41/4 138 781/4 -91/4 788 636 -13/4 227 1151/2 +13/4 222 1371/2 -40 1368 802

51/8 14081/2 217 8131/2 413/4 143/8 1904 120 61/2 2401/4 201/2 332 4509

-1/8 151/2 51/8 -32 2072 1207 -13/4 289 161 +1 1381 7841/2 -1/2 751/4 36 +1/8 731/4 63/4 1 1 -36 /2 2236 1666 /2 1261/2 95 87/8 27/8 -13/4 826 2333/4 -1/4 371/4 203/8 -31/2 515 2531/2 -102 6670 3972

MINING Anglesey Mining Anglo American Anglo Pacific Res Antofagasta Hldgs Aquarius Platinum Avocet Mining BHP Billiton Bisichi Mining Coalfield Res Kazakhmys Kenmare Lonmin Randgold Res

3

-6 /4 -27/8 -17/8 -31/8 -12 -47/8 -81/2 -51/4 3

449 /8 136 2177/8 2215/8 1290 3591/2 679 4213/4 1

294 /8 855/8 1395/8 1661/8 8391/2 2277/8 392 2993/4 1

Price

Rio Tinto Vedanta Res

+/- Year High

31941/2 -721/2 1011 -29

3757 1335

Year Low

2582 992

MOBILE TELECOMMUNICATIONS Inmarsat 666 -71/2 749 560 Vodafone Group 2293/8 -17/8 2321/2 1541/2 NONLIFE INSURANCE Admiral Grp 1262 1416 -4 4373/4 Amlin 4313/4 Beazley 2401/8 +11/8 2423/4 Catlin Group 514 -51/2 5521/2 Jardine Lloyd Thom 1008 -1 1028 RSA Insurance Gp 1041/8 -51/4 1361/4

1060 3703/4 1671/4 4557/8 734 1041/8

OIL & GAS PRODUCERS BG Group 1248 -211/2 1283 10001/2 BP 4811/4 -25/8 4891/4 4165/8 Cairn Energy 2691/8 -43/4 2961/8 2513/4 Dragon Oil 583 +1 662 510 - 121/2 71/8 Fortune 91/2 JKX Oil & Gas 741/4 -1/4 803/8 481/2 Premier Oil 3261/4 -53/4 4001/4 3211/4 Royal Dutch Shell A 20281/2 -57 23091/2 1987 Royal Dutch Shell B 21081/2 -561/2 2365 20771/2 Soco International 3953/8 -45/8 430 3467/8 Tullow Oil 8801/2 -191/2 1396 8801/2 OIL EQUIPMENT & SERVICES AMEC 1162 -16 1207 9651/2 Hunting 8151/2 -221/2 941 716 Petrofac 1403 -21 1737 1194 Wood Gp(J) 812 +281/2 9151/2 7201/2 PERSONAL GOODS Abbeycrest 11/2 11/2 11/2 Burberry Gp 1462 -26 1667 1164 6 2 Creighton 51/4 Lambert Howarth 181/2 181/2 181/2 PZ Cussons 3761/4 -25/8 4321/2 3381/2 Worthington Group 3 8 3 PHARMA & BIOTECH 1 Ark Therapeutics /4 AstraZeneca 3267 BTG 4455/8 Dechra Pharms 670 Genus 1242 GlaxoSmithKline 16083/4 Hikma Pharmaceuticals 1200 Oxford Biomedica 25/8 Shire 2761 SkyePharma 1161/4 Source Bioscience 103/4 Vectura 1071/2 REAL ESTATE Big Yellow Gp Bolton Group (Intl) British Land Capital & Regional Cardiff Property CLS Daejan Hldgs Derwent London Development Secs Grainger Great Portland Est Hammerson Helical Bar Highcroft Invs Intu Properties Land Securities London & Assoc Prop McKay Secs Mountview Estates Mucklow (A & J) Panther Securities Primary Health Props Quintain Est & Dev Savills Schroder Real Est SEGRO Shaftesbury Smart (J) St Modwen Props Stewart & Wight Town Centre TR Property IT Unite Group

460 15/8 6061/2 42 845 1215 3965 2415 236 2011/4 558 5171/2 3113/4 685 333 967 42 192 7129 502 330 3233/4 901/2 643 351/4 3261/4 589 881/2 3461/8 525 227 219 3991/8

1 - 31/2 /4 -171/2 35211/2 27921/2 -91/4 4547/8 3171/2 -7 780 569 -6 1594 1242 3 -28 /4 1782 13171/2 -8 1219 7251/2 - 27/8 13/8 -59 2858 1727 +53/8 1161/4 431/2 111/8 91/8 -1 117 77

-9 -131/2 -3 -9 -105 -27 -61/2 -3 -13 -41/2 -3 -33/4 -7 -1 +54 -8 +21/2 3 -1 /4 -2 -1 -23/8 -41/2 +1 /8 1

-1 -33/4 -15/8

SOFTWARE & COMP SERV Anite 911/2 -1 DRS Data & Research 231/4 Electronic Data Proc 701/2 Emblaze 491/2 Fidessa Gp 2120 +1 Gresham Computing 1341/4 -11/8 Innovation Group 32 Invensys 4987/8 -1/8 1 Kofax 373 /2 -11/2 Microgen 1261/2 +1/2 Parity 327/8 RM 1153/4 +13/4 Sage Group 346 +1/4 SDL 2621/2 Triad Group 141/4 SUPPORT SERVICES Acal 3263/4 -151/4 Aggreko 1583 +1 Ashtead Gp 6681/2 -231/2

489 3227/8 15/8 15/8 658 506 451/4 241/2 845 730 1260 6561/2 4200 2760 2574 1999 244 143 2061/8 1111/2 598 4511/2 554 4583/4 318 178 695 575 366 3005/8 999 7621/2 42 211/2 1931/2 1311/2 7129 43621/2 510 3473/4 3421/2 285 3641/2 3121/2 100 513/4 6641/2 4071/4 351/4 351/4 3363/4 2215/8 668 5241/2 901/2 721/2 3611/2 206 600 525 230 1783/4 2337/8 1571/2 4081/2 2603/4 162 231/4 721/2 61 2190 1401/2 32 5091/2 388 1551/2 44 124 3871/4 553 161/2

76 /4 151/4 521/2 43 1297 653/4 211/4 2731/2 2603/4 112 181/2 64 3043/8 252 51/2 3

355 1573/4 2254 1442 730 3731/4

Price

Atkins (WS) Babcock Intl Berendsen Brammer Bunzl Capita Group Carillion Communisis DCC De La Rue Diploma Electrocomponents Essentra Experian G4S Harvey Nash Hays Homeserve Hyder Consulting Interserve Intertek Group Jarvis Journey Group Latchways Lavendon Litho Supplies Macfarlane Grp Management Cons Mears Group Menzies (J) MICE Group Michael Page Intl MITIE Group Northgate Office2office Paypoint Premier Farnell Regus Rentokil Initial Ricardo Robert Walters RPS Group Serco Group Shanks SIG Smiths News Speedy Hire St Ives SThree Travis Perkins Tribal Grp Vp Waterman Group Wolseley

Year ▲ Risers Low

+/- Year High

Fenner Esure Group Bwin.Party Digital 1261 710 ICAP 1306 Gp(J) 957 Wood Xaar 980 573 Sainsbury(J) 500 2403/4 Bank of Georgia 1414 Gp 1009 Drax Oxford 1057 Instruments 713

1254 +3 1295 -11 9391/2 -12 440 -60 1395 -14 970 +1/2 2971/2 -61/4 3313/4 2443/4 621/2 68 343/4 2792 -48 2861 22 825 -41/2 1046 8231/2 650 -131/2 693 438 2893/8 -21/4 2981/4 2037/8 7741/2 -171/2 830 543 1195 -10 1288 980 256 -1 3131/2 2071/2 93 +1 953/8 541/2 1223/4 -2 1253/4 763/4 250 +43/8 2935/8 1855/8 560 -15 575 377 614 -9 631 3491/8 3171 -33 3453 2828 3 93/8 93/8 9 /8 149 150 1151/2 13721/2 +1021/2 13721/2 940 1793/4 +13/4 1961/2 126 5 5 5 393/8 241/2 391/8 25 +1/8 32 211/4 448 -31/2 4521/4 3023/4 1 1 1 753 /2 -13 /2 841 /2 573 6 6 6 476 -101/2 5021/2 3463/8 1 1 7 310 /4 + /4 314 /8 248 -4 4583/4 249 4273/4 37 -11/4 126 333/4 1020 -10 1185 8141/2 2313/4 -23/4 2383/8 1655/8 1975/8 -23/8 2141/8 96 85 106 1123/4 1 1 1 5 585 /2 -4 /2 661 /2 349 /8 320 -15 336 191 2861/2 -41/2 2991/4 1951/2 504 -71/2 6831/2 504 73 110 -1/4 1101/4 2053/4 -41/8 2103/4 102 2123/4 +13/4 2123/4 149 -2 70 331/4 661/4 1781/4 -6 188 100 3331/2 -3/4 370 2991/2 1707 -28 1858 1060 172 -1 2061/2 961/4 5001/2 510 313 633/4 361/2 611/4 3277 -66 3483 26365/8

TECH HARDWARE & EQUIPMENT ARM Hldgs 9231/2 -91/2 1097 21 BATM Adv Comms 181/2 -1/4 3 3 Bede /4 /4 CML Microsystems 5271/2 550 CSR 481 +31/8 607 Filtronic 633/4 -1/2 831/4 Imagination Tech 2423/8 +23/8 552 Northamber 35 401/2 Pace 3053/8 +41/4 3233/4 3 3 Plasmon /8 /8 Spirent Comms 1111/8 -1/2 1691/4 Vislink 483/4 +1/8 521/8 Wolfson Microelectronics 136 -2 2261/4 TOBACCO British Amer Tobacco Imperial Tobacco

3380 2363

TRAVEL & LEISURE 888 Holdings 1591/4 Air Partner 570 Bwin.Party Digital 130 Carnival 2268 Compass 8881/2 easyJet 1233 Enterprise Inns 1397/8 FirstGroup 1175/8 Fuller S.T.A. 930 Go-Ahead Gp 1603 Greene King 8171/2 Intercontl Htls 1814 Intl Cons Airl 3713/4 Ladbrokes 1863/4 Marston's 1493/8 Millennium & Copth 586 Mitchells & Butlers 3993/4 National Express 2521/4 Paddy Power 51685/8 Punch Taverns 11 Rank Group 142 1 Restaurant Grp 556 /2 Ryanair Hldgs 477 Sportech 86 Stagecoach 3523/4 Thomas Cook 1433/4 TUI Travel 3773/4 Wetherspoon (JD) 7011/2 Whitbread 3363 William Hill 3787/8 UTILITIES Centrica Dee Valley National Grid Pennon Group

-43 -7

3784 2534

711 133/4 3 /4 364 332 32 2351/8 1 27 /2 1771/4 3 /8 1081/4 251/4 136

3091 2120

-21/4 186 1053/4 +15 570 2721/2 +51/2 156 1011/4 -20 2628 2030 -161/2 9101/2 6871/2 +6 1448 641 -73/4 1573/4 653/4 5 -2 /8 2233/4 92 969 726 -28 1738 1220 -231/2 8971/2 5891/2 -25 2039 1572 -121/2 3841/4 1581/2 -23/4 2431/8 1673/8 -23/4 1651/2 1183/4 -11/2 6151/2 456 -87/8 460 296 -35/8 2747/8 1641/2 -293/8 59153/8 45561/8 -11/2 151/2 61/2 -51/4 1771/2 1371/4 -141/2 581 364 -77/8 6271/2 3797/8 -1/2 108 64 -2 3551/4 2657/8 -21/8 1705/8 20 -45/8 4011/2 2463/4 -20 767 4933/4 -80 3467 2314 -61/4 4941/2 3287/8

3637/8 +31/2 4021/4 3131/2 1530 +5 1530 1325 7761/2 -41/2 8471/2 682 7271/2 598 6451/2

Rise p

Price % rise

+/- chng Year Wk%

450 +42 224 +11 130 Severn Trent +5 +15 391 United Utilities +28 812 +30 945 +11 410 AIM 2161 +61 1pm653 +16 21st1458 Century Tech+33

+10.48 +5.51 +4.42 1824 +4.12 692 +3.64 +3.33 +2.98 +2.90 39 +2.59 +2.32 63/4

+11.39 +0.13 +3+7.44 2090 +3.32 1 +31/+1.88 2 787 /2 +14.19 +3.45 +8.00 7 45 /8 +2.35 +13.02 16

600 Group 18 Abbey 8421/2 Advanced Medical S 1011/4 Alkane Energy 401/2 Alliance Pharma 343/4 Amerisur Resources 45 Aminex 2 Andrews Sykes 325 1 Antisoma 1 /4 Aortech 125 API 80 Ashley House 227/8 ASOS 5675 Aukett Fitzroy Robinson 63/8 Avanti Capital 981/2 Avesco Gp 2211/2 Bailey (CH) 1901/2 BCB Holdings 15 Berkeley Mineral 21/4 Resources Best of the Best 571/2 Billington Hldgs 1021/2 Braime (TF & JH) 'A' N/ 545 Vtg Capital Mngt & Inv 1971/2 Celtic 66 Chamberlin 841/2 7 Clean Energy Brazil 1 /8 Clear Leisure 13/8 Coal of Africa 77/8 Colefax 345 Concurrent Tech 38 Connemara Mining 5 Company CPL Resources 535 Crimson Tide 13/4 Cropper (J) 360 Daisy Gp 176 Dart Group 2081/4 Densitron Tech 63/4 Dewhurst 500 Dewhurst A 3221/2 Dillistone Group 1171/2 Dolphin Capital Investors 39 Ebiquity 122 Eckoh 283/8 Eco Animal Health 2071/2 Egdon Resources 81/4 Eleco 20 Eros Intl 2351/2 Faroe Petroleum 130 5 Feedback /8 FII Group 63/4 Finsbury Food 691/2 Fletcher King 35 Forbidden Technologies 331/2 3 Futura Medical 51 /4 Fyffes 721/8 Global Energy 843/4 Gooch & Housego 618 Grafenia 193/8 Great Eastern Energy 1721/2 Green Compliance 11/8 Griffin Mining 353/8 GW Pharmaceuticals 175 Hampden Underwriting 1361/2 Havelock Europa 191/4 Hayward Tyler 643/4 Heavitree Brewery 325 Heavitree Brewery A 1821/2 Helphire Grp 51/2 Highland Gold Mining 70 Hirco 20 Hydro Intl 105 I S Solutions 541/2 ILX Group 83/8 1 Imaginatik /8 Independent Res 73/4 IndigoVision 333 Interior Services 2631/2 Iomart 257 James Halstead 2761/2 Jelf Group 891/4 Johnson Service 501/2 Latham (J) 396 1 Leed Petroleum /8 Lok'n Store 1961/2 London Capital 35 London Security 18571/2 M&C Saatchi 3283/4 Majestic Wine 553 7 Mercer Resources /8 Metro Baltic Horizons 121/2 5 Mirada 11 /8 Miton Group 481/4 Mulberry Group 1030 Nanoco Group 147 Nasstar 111/4 Nationwide Accid Repair 651/2 Netcall 411/2 Next 15 Comms 861/2 Nichols 1169 Nighthawk Energy 103/4 3 North River Resources /4 Northern Bear 25 Numis Corp 2431/2

18 +5 8371/2 -1 1041/2 411/4 381/2 1 - /2 58 - 53/4 342 2 -21/2 1311/2 92 251/4 -24 5944 61/2 -11/2 1011/2 235 204 213/4 3

Price

3 4 3 4

1 2

3 4

1 2 1 2

1 2

1 2

3 4

7 8

1 2

High

Year Fallers ▼ Low

-1 -1/8 -1/4 +1/4 -2 +1/2 +1 -23/4 -41/4 -2 -21/2 -1/2 +41/2 -41/4

+ -1/2 -1/2 -1/8 +101/2 -3 -1/2 -11/2 +2 -421/2 +11/4 -8

+1/4 -10 -11/2

-12 + -3/4

3

Price

Fall p

1

7

1

3

7

103/4 530 54 23 307/8 1 39 /4 2 200 1 1 /4 411/2 543/4 107/8 2198 21/4 531/2 154 1521/2 15 21/8

200 32 +1/2 66 381/4 -1 1741/2 76 +1/8 71/2 17/8 3 5 1 /8 -1/8 23 71/8 355 2221/2 541/2 371/2 +1/8 91/4 43/4

+10 -5 -71/2

2

Kier Gp 1688 NMC Health 346 Enterprise Inns 139 Optimal Payments 1519 RSA Insurance 104 647 DevsOttoman Fund312 Barratt Oxeco Ferrexpo 178 Bovis HomesPanmure Gp 751& Co Gordon BSkyB 805 Patagonia Gold 1 13 /4 Greencore Gp 186 Paternoster Res Persimmon 1154 5

+1 611/2 20 +2 1021/2 38 1 1 552 /2 472 /2

+321/2

1

535 2621/2 13/4 11/8 420 1701/2 181 85 2691/4 91 91/8 51/4 5421/2 440 3721/2 2721/2 1241/2 661/2 411/2 253/4 122 92 281/2 141/8 270 194 117/8 77/8 241/8 7 2971/2 191 1 1 149 /2 105 /2 3 3 /4 /8 63/4 63/4 773/4 38 351/2 25 361/2 181/2 3 80 51 /4 721/4 37 1 122 /2 69 620 415 32 181/2 2731/2 1721/2 7 8 /8 381/2 261/2 1 175 39 /2 1361/2 100 223/8 111/4 691/2 161/2 3371/2 325 1921/2 175 53/4 11/2 116 521/2 523/8 191/4 126 871/2 541/2 371/2 125/8 7 1 3 /8 /8 111/8 47/8 4211/2 2871/2 2831/2 1321/2 319 192 660 2373/4 941/2 601/2 531/2 335/8 4041/2 270 1 1 /4 /8 2161/2 1111/2 3 1 51 /4 27 /2 1900 16871/2 3283/4 170 561 397 13/4 131/2 43/4 141/2 87/8 481/4 203/4 1449 850 199 67 133/8 93/4 78 481/2 45 28 115 711/2 1237 825 12 3 3 11/8 /8 251/2 13 2511/2 117

4

8

8

4

8

Penna Consulting Pennant Intl Personal Group Petra Diamonds Petrel Resources Pittards Portmeirion Prime Active Cap Prime Focus London Prime People Publishing Technology Pursuit Dynamics Qihang Eqpt Qonnectis RAM Active Media Rangers Intl Real Good Food Redhall Group Redstone Renew Holdings RGI International Rockhopper Exploration RTC Group Sabien Technology Safeland Sagentia Gp Scapa Group SciSys Services Power Tech Servoca Sinclair (Wm) Sirius Minerals Slingsby (HC) Software Radio Technology Sopheon SPDI Secure Statpro Sterling Energy Stilo International Strategic Natural Resources Sutton Harbour Swallowfield Synetics Taliesin Property Tasty Tawa Telford Homes Telme Group Ten Alps Terrace Hill Thorpe (FW) Total Produce Trakm8 Hldgs Transense Techs Travelzest Turbo Power Systems TVC Holdings Ultima Networks Univision URU Metals Vernalis Vertu Motors VPhase Walcom Group Walker Greenbank Weather Lottery West African Diamonds WYG Wynnstay Group Wynnstay Props XXI Century Inv Young Brewery A Young Brewery N/Vtg Zincox Resources Zoo Digital

Price % fall +/- Year Year Wk% chng High Low

-120 -21 -7 300 -5 33 -15 1 -8 12 /4 1 -36176 /2 -35133/8 -7 3 /8 -46 1 4

3

1

4

4

1 4

3

4

1 2

1

cls

4

2

-6.64 -5.79 -5.28 -4.84 -4.67 -4.64 -4.63 -4.17 -1/8 -3.86 -3.83

90 74 4451/2 -7 1093/4 +1/2 1 3 14 /4 - /8 3 6921/2 +21/2 7 45/8 76 495 -15 223/4 +1/8 61/2 44 -21/2 2 451/2 673/4 531/2 7 /8 1631/2 +2 1321/2 1393/4 -2 151/2 +1/2 383/4 261/4 152 92 731/2 41/8 63/8 841/2 -8 6 -1/4 375 323/8 +1/8

-7.71 -3.40

3171/2-2.71108 -13.32 37+0.42 29 141/2-9.7083/4 225-1.18 1321/2 -14.36 8 27 -2.40 5 /8-2.701/4 971/2 621/2 1 89 /2 411/2 455 320 132 100 231/4 137/8 31/4 17/8 705 4871/2 71/2 5 93/4 25/8 1 76 46 /2 6221/2 114 331/2 9 10 61/4 1 46 /2 25 2 101/2 93 411/2 673/4 36 75 411/2 3 103/8 /4 1631/2 811/2 136 1041/8 1751/2 1123/4 17 11 433/4 20 28 51/4 153 86 951/2 611/2 821/2 62 57/8 33/4 3 7 2 /8 1531/2 841/2 291/4 6 5371/2 375 361/4 177/8

90 +21/2 150 681/2 74 931/2 106 1 5 42 -1 /2 43 /8 33/4 47/8 43/8 -3/8 28 281/4 861/2 5571/2 1615 117 171/2 3441/4 134 11/8 271/2 136 711/2 33 63/4 3 1 /8 1 /2 553/8 1 5 /8 1 2 /2 273/4 591/2 1 /8 3 1511/2 1 /8 11/8 108 626 275 13/4 1005 685 161/2 111/2

BRITISH FUNDS Consol 21/2% 583/32 Consol 4% 937/8 Conv 2.5% 809/32 1 585/16 Tres 2 /2% War Ln 31/2% 8213/32 Tres 8% 15 1151/2 Tres 21/2% IL 16 3407/8 3 Tres 8 /4% 17 12731/32 Tres 8% 21 13915/32 Tres 5% 25 1197/8 Tres 6% 28 1333/8 1 Tres 4 /4% 32 1115/8

741/2 601/8 731/2 331/4 35/8 41/8

35 213/4 1091/2 721/2 1 562 /2 2841/2 16471/2 11221/2 120 501/2 451/2 17 1 +3 /4 365 160 86 +1/2 1391/2 23/4 11/8 -1/2 28 97/8 +4 136 92 711/2 39 34 16 3 13 6 /8 1 7 5 /8 /4 7 1 /8 /8 84 47 3 /4 11/4 1 - 11/8 /2 1 7 3 /2 1 /8 +1/4 31 193/8 -1/2 613/4 37 7 1 /8 /8 1 3 2 /2 -1/2 160 70 1 1 /8 /8 7 - 31/8 /8 1 3 -3 /4 111 /8 61 -11/2 6371/2 4051/2 275 2721/2 37/8 15/8 10821/2 6921/2 -21/2 7271/2 5521/2 +1 431/4 141/2 -1/2 153/4 61/4

+5/16 +1/4 +1/8 +3/16 +7/32 -1/32 -3/16 -1/32 -1/32 -3/32 -1/16

661/32 10029/32 9117/32 671/2 927/16 1237/16 3537/8 13729/32 1533/4 13315/32 1503/32 12523/32

561/16 9023/32 76 533/4 7927/32 1151/2 3397/8 1277/8 1385/8 1185/32 13115/32 10911/16

Reports TODAY Interims Asda (Q3), Carphone Warehouse, Norcros Trading updates Centrica, Taylor Wimpey Report Council of Mortgage Lenders arrears and repossessions and buy-to-let figures Rates Bank of England decision on interest rates TOMORROW No events