1W

DP-E01-S3BusinessCreditors lefthanging asbutcher folds

But there were less success-ful ventures into a lingeriebusiness and a wet fish shop,and two hotels, one inCulbone, near Porlock, and theother in Dunster, both ofwhich ultimately failed.

And things started to gobadly wrong last year when itwas ordered to pay fines andpenalties of £15,000 after beingprosecuted by Trading Stand-ards. The company had builtits reputation on sourcing beefand lamb from Exmoor, withits shops, vehicles and websiteusing images of sheep andcattle grazing on Exmoor.

But a lengthy investigationrevealed some of what wasbeing sold as local meat had infact come from animalsbought in the Midlands.

Earlier this year, GeraldDavid officially retired fromthe business and went to livein Spain, handing everythingover to sons Alistair andPhilip. But the abattoir wasreported as having closedsome days ago after a disputewith meat inspectors overunpaid bills and over theweek-end unsold goods andequipment were removedfrom most of the shops.

The company’s debts are re-portedly in the millions, withcreditors including livestockauctioneers and bacon andcheese suppliers.

Dairy farmer Derek Mead,Puxton Park’s owner, said ar-rangements were being madeto take the butchery outletback in house and to carry ontrading there.

Despite strenuous effortsthe Western Daily Press wasunable to contact the Davidfamily yesterday.

One of the region’s biggest chains of butchers’ shops has gone into administration. Gerald David, pictured above,retired to Spain earlier this year, but his eponymous chain went into administration last week, it is understood

BY CHRIS RUNDLEAND TINA ROWEwdbusiness@b-nm.co.uk

One of the South West’s best-known butchery chains hascollapsed with debts re-portedly running into mil-lions of pounds.

Gerald David and Family,based in Minehead, went intoliquidation at the end of lastweek, leaving more than 50staff facing an uncertainf u t u re.

An administrator has beenappointed to run its affairs.

Apart from its two shops in

Minehead the company hadsix others including units inTaunton, Dulverton and Ched-dar, all supplied from the com-p a ny ’s own abattoir in Por-lock. There are other outlets atDarts Farm, Topsham, and atPuxton Park, near Weston-super-Mare. It also ran amobile unit which appeared atshows such as the Bath andWest and Devon County.

At one time the businesswas one of the most successfulin the South West food sector.Mr David, who started withone side-street shop in the1970s, drove a top-of-the-rangeBentley and clients were in-vited to week-ends aboard hisocean-going motor cruiser.

Somerset gym equipmentmakers flex their muscles Page 6

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

West Country publisherFuture said it was on course todeliver a dividend for the firsttime since 2011, as it an-nounced that results to the endof September will meet expect-at i o n s.

Future, whose titles includeTotal Film and technologymagazine T3, as well as gamesand music websites, said therewas “encouraging mo-mentum” across all tradingareas. Advertising bookingsfor the first quarter of the2014/15 year are up more than30 per cent, amid good pro-gress reshaping the business.

NEWS ON THE GOprint | online | mobilewesterndailypress.co.uk

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Staff facing uncertainty due to thedifficult situation at Gerald David

50

Britain has the highest infla-tion rate in the EuropeanUnion, according to figuresfrom the 28-nation bloc’s of-ficial statisticians.

The 2.7 per cent annual CPIinflation rate recorded in theUK in September was wellabove the overall EU rate of 1.3per cent and the 1.1 per cent inthe eurozone, said Eurostat.

By comparison, inflationwas zero per cent in Ireland,one per cent in France and 1.6per cent in Germany, whileprices are falling year on yearin Bulgaria, Greece andLatvia, according to the Euro-stat figures.

Labour Treasury spokeswo-man Catherine McKinnellsaid yesterday: “This is yetmore evidence of the cost-of-living crisis facing familiesacross Britain after threeyears of this Government’sfailing policies. Prices havenow risen faster than wages in39 out of 40 months underDavid Cameron and now welearn that we have the highestrate of inflation of any EUc o u n t r y.

“David Cameron is so out oftouch he thinks people arebetter off, but working peopleare over £1,500 worse off sincehe came to office.”

Future brighterfor publisher

Inflation worryrisks growth

WESTERN DAILY PRESS THURSDAY OCTOBER 17 2013 WEST COUNTRY BUSINESS 3WDP-E01-S32 WEST COUNTRY BUSINESS THURSDAY OCTOBER 17 2013 WESTERN DAILY PRESS WDP-E01-S3

BusinessWest fails tomatch UKjobs growthBY ALAN JONESwdbusiness@b-nm.co.uk

Unemployment in the SouthWest increased by 16,000 in thethree months to August, of-ficial figures have revealed.

The Office for National Stat-istics (ONS) showed that a totalof 172,000 people were unem-ployed in the region betweenJune and August.

The region’s unemploymentrate was 6.3 per cent and saw arise of 10.3 per cent during theperiod. The worst area in theUK was the North West whichrecorded a 24,000 increase inthe number of people without aj o b.

The number of people inwork nationwide has thoughreached a record high ofalmost 30 million after a newfall in unemployment.

Just under 2.5 million peoplewere out of work in the threemonths to August, down by18,000 on the previous threemonths, while figures showedthe biggest monthly fall in job-s e e ke r ’s allowance claimantsfor 16 years.

Fewer people on high payand more workers on lowerpay in the public sector couldbe behind the figure.

The latest figures showed a69,000 increase in male full-time employment and 21,000increase in part-time employ-ment, while the number ofwomen in part-time jobs fell by13,000 compared with a 79,000rise in full-time female em-p l oy m e n t .

There were 958,000 unem-ployed 16 to 24-year-olds in thelatest three months, down by1,000 over the quarter.

More than 1.1 million peoplehave been unemployed for upto six months, down 32,000, butthose out of work for betweensix months and a year rose by29,000 to 446,000.

The number of people out ofwork for over a year fell by15,000 to 900,000.

Employment MinisterEsther McVey said: “To d ay ’sfigures show a rise in employ-ment of more than a millionunder this Government, andthey show that there are nowmore people in work than everb e fo re.

“T hat’s a really positive signof growth in the UK economy,and a credit to British busi-nesses for creating those jobs.

“We are not complacent –t h e re ’s still work to do – bu twith more than 500,000 vacan-cies currently available, andwith all the signs being thatthe economy is turning acorner, we can see that thereare opportunities out there forhardworking people whoaspire to get on in life.”

GMB general secretary PaulKenny said: “That we havemass unemployment of two-and-a-half million six yearsinto recession shows thehuman costs caused by the ex-cesses of the bankers. Youngworkers have borne a heavybrunt. It has taken a toll on theliving standards of almost thewhole working population.”

Speaking in the House ofCommons, Prime MinisterDavid Cameron welcomed thenational figures.

He said: “It is good news. Thenumber in work is up 155,000.Unemployment is down 18,000,wo m e n’s unemployment isdown, youth unemployment isdown, long-term unemploy-ment is down and vacanciesare up.

“Crucially, the fall in theclaimant count is 41,000 thismonth alone.

“That is the fastest fall in thenumber of people claiming un-employment benefit since Feb-ruary 1997.”

The so-called claimant counthas now been cut for 11 con-secutive months after Septem-ber’s fall of 41,700 to 1.35 mil-lion.

Employment rose by 155,000to 29.87 million, the biggesttotal ever recorded, giving arate of 71.7 per cent.

People classed as econom-ically inactive also fell, by83,000 to 8.95 million, while jobvacancies rose by 6,000 overthe latest quarter to 541,000,the highest for five years.

But the new data from theONS also showed that 1.45 mil-lion people were working part-time because they could notfind full-time jobs, the highestfigure since records began in1992.

Average earnings growthfell back from 1.2 per cent to 0.7per cent for the year to Augustcompared with the previousmonth.

Average weekly earnings inprivate firms increased by 1.1per cent, but the annualgrowth rate in the publicsector slumped to minus 0.5per cent, the lowest since2001.

Smiths profitsfrom diversityNewspaper distributor SmithsNews pledged to continue itsshift away from hard-hit printand magazine markets as itincreased profits despite fur-ther falls in circulation.

The Swindon-based group,which supplies around 30,000UK retailers and newsagents,reported a 9.2 per cent fall inlike-for-like wholesalemagazine sales in the year toAugust 31, blaming “wider eco-nomic pressures” for an on-going drop in demand, as wellas price cuts in TV listings.

Newspaper sales were alsoknocked – down 2.7 per cent –as the Sun on Sunday kept thepressure up on rivals with itscompetitive cover price,having sparked a price war lastyear after launching into themarket, although Smiths saidprices were starting to riseag ain.

The group said it was ontrack to see half of all profitscome from outside of news-paper and magazine wholesal-ing by 2016, up from 29 per centin the past financial year.

When recently qualified elec-trician Tony Morgan startedup a business in his mother’sgarage 50 years ago he neverexpected it to grow into amulti-discipline group turn-ing over more than £30 millionand employing more than 400p e o p l e.

Dorset’s Wessex Group isone of the county’s hiddenbusiness success stories, andcelebrates its golden jubileenext month.

Joint managing directorSimon Morgan – To ny ’s son – ispleased that as the milestoneapproaches, he senses that theeconomy is picking up andconfidence is growing.

And this positive outlook issignificant because the groupis active in a variety of sectors,many of which are good eco-nomic indicators.

Over the years Wessex Elec-tricals developed into the

group that now includesWessex Fire & Security,Wessex Building Services,Wessex HVAC & Plumbing andWessex Catering Mainten-ance, among others.

Still based in Shaftesbury,where it all began, it has agrowing presence across thecountry, but its heartlandsremain in the “We s s e x ”re gion.

Simon, aged 46, and hisbrother Alistair, aged 43, arejoint managing directors,meaning the group is still verymuch a family affair, a qualitythat leads to it having manyloyal and long-serving staff.

For example, Gordon Greenbegan as Tony’s first appren-tice in 1965 and is now man-aging director of Wessex Elec-t r i c a l s.

“Reaching 50 years is an in-credible achievement for thegroup and is down to the great

just as the economy crashed,”Simon said. “But we’veweathered the storm and stillexpect to hit our targets, if notexceed them.

“In fact we want to be grow-ing when we reach our 100thanniversary, and I hope someof this year’s apprentice intakeare still here in 2063.”

To celebrate its 50th an-niversary this year, WessexGroup is giving away “50somethings” to a good cause orcharity each month.

So far it has given 50 sensorytoys to a charity for childrenwith severe learning diffi-culties, planted 50 yards ofsnowdrops in Shaftesbury, sup-ported 50 animals at a rescuecharity, provided 50 vintagebooks for Max Gate, ThomasH a rdy ’s former home, helped adyslexia support group with 50promotional packs, suppliedGold Hill museum in Shaft-esbury with 50 LED lamps,sponsored 50 birds at an owlsanctuary and donated 50teddy bears to the Dorset andSomerset Air Ambulance.

It also held a gala dinner atthe BIC for staff and their part-ners and has further plans forevents through the rest of theye a r.

foundations built by myf ather,” said Simon.

“Alistair and I still seekadvice from him on occasions,and he occasionally attendsboard meetings, and that con-tinuity is something that ourclients and customers appre-c i at e.

“Because of the strength ofthe group we were able to rideout the recent economic dif-ficulties and I now sense thatthings may be picking up.

Group celebrates withcharity giveaway 50 yearsafter starting in garage

The rise in the number of peopleout of work in the South West

16,000

Tony Morgan founded WessexElectricals in 1963, main picture;he was a recipient of the ElectricalContractors Association Centenaryaward in recognition of his work;paying tribute to the company’sloyal and hard-working staff at the50th anniversary gala dinner

Tony Morgan with his sons Alistair, left, and Simon, who are now jointmanaging directors; the headquarters of Wessex Group in Shaftesbury,Dorset – the firm now has a growing presence across the country

Ousted carhead vows tofight backBY CHRIS CAMPBELLwdnbusiness@b-nm.co.uk

Charles Morgan is set to put upa fight after being ousted fromhis position as head of MorganCar Company, with the factorystating it is “better placed” tosteer the business withouthim.

Mr Morgan is to appeal themove, which sees him nolonger part of the managementteam or board of directors atthe Malvern-based company.

Motor fans flocked to socialnetworking site Twitter to de-clare their shock at the de-cision. He is seen by many asthe face of Morgan Car Com-pany, which celebrated its cen-tenary year at CheltenhamRacecourse in 2009, and iswidely-credited for personallyinfluencing many of thebrand’s car designs over thepast decade.

Tim Oldland, who is a dir-ector at production designcompany C2P Design, tweeted:“Hurrah, @charlesmorganukto fight the decision! Seems thewhole motoring world isbehind you Mr.M!”

Garath Williams, @thereal-GDJ, tweeted: “Am I readingthis right? @charlesmorganukpushed out of #MorganCars??? Where is the sense!??”

Stock markets staged a rallyyesterday on reports US politi-cians have struck an 11th hourdeal on America’s loomingdebt deadline.

The FTSE 100 Index hadearlier plunged into the red asthe prospect of the world’slargest economy defaulting onits debt edged nearer, but bythe close of the session updatesfrom Washington had lifted it22.5 points to 6571.6.

In New York, the Dow JonesIndustrial Average surged 200points ahead, a rise of morethan 1 per cent. Germany’sDax was also up, althoughF rance’s Cac 40 failed to climbout of the red by the end of thesession.

On currency markets, ster-ling slipped against a resur-gent greenback, off one cent to1.59 US dollars, while it wasflat against the single cur-rency at 1.18 euros.

Royal Mail lost some of itspost-flotation froth, down 3 percent or 14p to 475p – althoughinvestors are still enjoying arise of more than 40 per cent onthe Government’s price taglast week.

Some blue chips also re-mained under pressure afterstar fund manager Neil Wood-ford quit Invesco Perpetual.

Shares in firms in which hehas built up holdings droppedafter the announcement, withBAE Systems initially downagain yesterday before closingup 4.1p to 443.3p on rising hopefrom Washington. The grouphas said it could be hit by thebudget wrangling.

Responding to one tweeterwho asked whether the movewas a publicity stunt, MrMorgan, who is the grandsonof company founder HarryMorgan, simply said “no” andwrote: “Thank you so much forall your support everyone#morg an.”

A spokesperson from theMorgan factory said: “T heMorgan family recognises themanagement contribution

that Charles has made to thefamily business as strategydirector and confirm that heremains a shareholder.

“However, to ensure continu-ing success, Morgan must lookto strengthen and review itsstrategies, and acknowledgethat our management team isbetter placed to steer the com-pany in the future.”

Visit www.southwestbusiness.co.uk todayand enjoy a free daily e-briefing on the latestbusiness news, opinion and features fromcentres of enterprise across the West Country

Turnover Dorset’s Wessex Groupaims to achieve by 2018

£45m“Confidence really does

appear to be increasing andacross our businesses we’veseen signs of a recovery,” headded.

The group has a plan to in-crease turnover to £45 millionby 2018, growing by betweenfive and seven per cent, and itis on course to do that.

“We have a ten-year planthat we put into place in 2008 –

Markets rallyon hopes of aUS debt dealYESTERDAY IN THE CITY

Charles Morgan of Morgan Cars

TOURIST POUND ABROADEURO 1.13 euroDOLLAR 1.53 dollarsAUSTRALIA 1.59 dollarsBRAZIL 3.12 realsCANADA 1.58 dollarsCHINA 8.71 yuan

HONG KONG 11.76 HK dollarsINDIA 87.01 rupeesJAPAN 149.78 yenSOUTH AFRICA 14.93 randSWITZERLAND 1.39 francsTURKEY 2.99 lira

First Intuition Bristol, 6th Floor City Point, BS1 6PL

Simon Wilshire CIMAT4 - March / May 2013Fiona Walker ICAEWAdvanced Stage Business Change - July 2013

Samantha Barnes (2 papers)Tom Foster (1 paper)

- June 2013ICAEW Professional Stage

approved rate for all papers byfirst intuition Bristol students - June 2013

ACCA92% pass rate

100% pass rate

3 regional firsts

2 world firsts

ICAEW Advanced Stage & Case Studyfor all our first time students - July 2013

fi.co.uk

WESTERN DAILY PRESS THURSDAY OCTOBER 17 2013 WEST COUNTRY BUSINESS 3WDP-E01-S32 WEST COUNTRY BUSINESS THURSDAY OCTOBER 17 2013 WESTERN DAILY PRESS WDP-E01-S3

BusinessWest fails tomatch UKjobs growthBY ALAN JONESwdbusiness@b-nm.co.uk

Unemployment in the SouthWest increased by 16,000 in thethree months to August, of-ficial figures have revealed.

The Office for National Stat-istics (ONS) showed that a totalof 172,000 people were unem-ployed in the region betweenJune and August.

The region’s unemploymentrate was 6.3 per cent and saw arise of 10.3 per cent during theperiod. The worst area in theUK was the North West whichrecorded a 24,000 increase inthe number of people without aj o b.

The number of people inwork nationwide has thoughreached a record high ofalmost 30 million after a newfall in unemployment.

Just under 2.5 million peoplewere out of work in the threemonths to August, down by18,000 on the previous threemonths, while figures showedthe biggest monthly fall in job-s e e ke r ’s allowance claimantsfor 16 years.

Fewer people on high payand more workers on lowerpay in the public sector couldbe behind the figure.

The latest figures showed a69,000 increase in male full-time employment and 21,000increase in part-time employ-ment, while the number ofwomen in part-time jobs fell by13,000 compared with a 79,000rise in full-time female em-p l oy m e n t .

There were 958,000 unem-ployed 16 to 24-year-olds in thelatest three months, down by1,000 over the quarter.

More than 1.1 million peoplehave been unemployed for upto six months, down 32,000, butthose out of work for betweensix months and a year rose by29,000 to 446,000.

The number of people out ofwork for over a year fell by15,000 to 900,000.

Employment MinisterEsther McVey said: “To d ay ’sfigures show a rise in employ-ment of more than a millionunder this Government, andthey show that there are nowmore people in work than everb e fo re.

“T hat’s a really positive signof growth in the UK economy,and a credit to British busi-nesses for creating those jobs.

“We are not complacent –t h e re ’s still work to do – bu twith more than 500,000 vacan-cies currently available, andwith all the signs being thatthe economy is turning acorner, we can see that thereare opportunities out there forhardworking people whoaspire to get on in life.”

GMB general secretary PaulKenny said: “That we havemass unemployment of two-and-a-half million six yearsinto recession shows thehuman costs caused by the ex-cesses of the bankers. Youngworkers have borne a heavybrunt. It has taken a toll on theliving standards of almost thewhole working population.”

Speaking in the House ofCommons, Prime MinisterDavid Cameron welcomed thenational figures.

He said: “It is good news. Thenumber in work is up 155,000.Unemployment is down 18,000,wo m e n’s unemployment isdown, youth unemployment isdown, long-term unemploy-ment is down and vacanciesare up.

“Crucially, the fall in theclaimant count is 41,000 thismonth alone.

“That is the fastest fall in thenumber of people claiming un-employment benefit since Feb-ruary 1997.”

The so-called claimant counthas now been cut for 11 con-secutive months after Septem-ber’s fall of 41,700 to 1.35 mil-lion.

Employment rose by 155,000to 29.87 million, the biggesttotal ever recorded, giving arate of 71.7 per cent.

People classed as econom-ically inactive also fell, by83,000 to 8.95 million, while jobvacancies rose by 6,000 overthe latest quarter to 541,000,the highest for five years.

But the new data from theONS also showed that 1.45 mil-lion people were working part-time because they could notfind full-time jobs, the highestfigure since records began in1992.

Average earnings growthfell back from 1.2 per cent to 0.7per cent for the year to Augustcompared with the previousmonth.

Average weekly earnings inprivate firms increased by 1.1per cent, but the annualgrowth rate in the publicsector slumped to minus 0.5per cent, the lowest since2001.

Smiths profitsfrom diversityNewspaper distributor SmithsNews pledged to continue itsshift away from hard-hit printand magazine markets as itincreased profits despite fur-ther falls in circulation.

The Swindon-based group,which supplies around 30,000UK retailers and newsagents,reported a 9.2 per cent fall inlike-for-like wholesalemagazine sales in the year toAugust 31, blaming “wider eco-nomic pressures” for an on-going drop in demand, as wellas price cuts in TV listings.

Newspaper sales were alsoknocked – down 2.7 per cent –as the Sun on Sunday kept thepressure up on rivals with itscompetitive cover price,having sparked a price war lastyear after launching into themarket, although Smiths saidprices were starting to riseag ain.

The group said it was ontrack to see half of all profitscome from outside of news-paper and magazine wholesal-ing by 2016, up from 29 per centin the past financial year.

When recently qualified elec-trician Tony Morgan startedup a business in his mother’sgarage 50 years ago he neverexpected it to grow into amulti-discipline group turn-ing over more than £30 millionand employing more than 400p e o p l e.

Dorset’s Wessex Group isone of the county’s hiddenbusiness success stories, andcelebrates its golden jubileenext month.

Joint managing directorSimon Morgan – To ny ’s son – ispleased that as the milestoneapproaches, he senses that theeconomy is picking up andconfidence is growing.

And this positive outlook issignificant because the groupis active in a variety of sectors,many of which are good eco-nomic indicators.

Over the years Wessex Elec-tricals developed into the

group that now includesWessex Fire & Security,Wessex Building Services,Wessex HVAC & Plumbing andWessex Catering Mainten-ance, among others.

Still based in Shaftesbury,where it all began, it has agrowing presence across thecountry, but its heartlandsremain in the “We s s e x ”re gion.

Simon, aged 46, and hisbrother Alistair, aged 43, arejoint managing directors,meaning the group is still verymuch a family affair, a qualitythat leads to it having manyloyal and long-serving staff.

For example, Gordon Greenbegan as Tony’s first appren-tice in 1965 and is now man-aging director of Wessex Elec-t r i c a l s.

“Reaching 50 years is an in-credible achievement for thegroup and is down to the great

just as the economy crashed,”Simon said. “But we’veweathered the storm and stillexpect to hit our targets, if notexceed them.

“In fact we want to be grow-ing when we reach our 100thanniversary, and I hope someof this year’s apprentice intakeare still here in 2063.”

To celebrate its 50th an-niversary this year, WessexGroup is giving away “50somethings” to a good cause orcharity each month.

So far it has given 50 sensorytoys to a charity for childrenwith severe learning diffi-culties, planted 50 yards ofsnowdrops in Shaftesbury, sup-ported 50 animals at a rescuecharity, provided 50 vintagebooks for Max Gate, ThomasH a rdy ’s former home, helped adyslexia support group with 50promotional packs, suppliedGold Hill museum in Shaft-esbury with 50 LED lamps,sponsored 50 birds at an owlsanctuary and donated 50teddy bears to the Dorset andSomerset Air Ambulance.

It also held a gala dinner atthe BIC for staff and their part-ners and has further plans forevents through the rest of theye a r.

foundations built by myf ather,” said Simon.

“Alistair and I still seekadvice from him on occasions,and he occasionally attendsboard meetings, and that con-tinuity is something that ourclients and customers appre-c i at e.

“Because of the strength ofthe group we were able to rideout the recent economic dif-ficulties and I now sense thatthings may be picking up.

Group celebrates withcharity giveaway 50 yearsafter starting in garage

The rise in the number of peopleout of work in the South West

16,000

Tony Morgan founded WessexElectricals in 1963, main picture;he was a recipient of the ElectricalContractors Association Centenaryaward in recognition of his work;paying tribute to the company’sloyal and hard-working staff at the50th anniversary gala dinner

Tony Morgan with his sons Alistair, left, and Simon, who are now jointmanaging directors; the headquarters of Wessex Group in Shaftesbury,Dorset – the firm now has a growing presence across the country

Ousted carhead vows tofight backBY CHRIS CAMPBELLwdnbusiness@b-nm.co.uk

Charles Morgan is set to put upa fight after being ousted fromhis position as head of MorganCar Company, with the factorystating it is “better placed” tosteer the business withouthim.

Mr Morgan is to appeal themove, which sees him nolonger part of the managementteam or board of directors atthe Malvern-based company.

Motor fans flocked to socialnetworking site Twitter to de-clare their shock at the de-cision. He is seen by many asthe face of Morgan Car Com-pany, which celebrated its cen-tenary year at CheltenhamRacecourse in 2009, and iswidely-credited for personallyinfluencing many of thebrand’s car designs over thepast decade.

Tim Oldland, who is a dir-ector at production designcompany C2P Design, tweeted:“Hurrah, @charlesmorganukto fight the decision! Seems thewhole motoring world isbehind you Mr.M!”

Garath Williams, @thereal-GDJ, tweeted: “Am I readingthis right? @charlesmorganukpushed out of #MorganCars??? Where is the sense!??”

Stock markets staged a rallyyesterday on reports US politi-cians have struck an 11th hourdeal on America’s loomingdebt deadline.

The FTSE 100 Index hadearlier plunged into the red asthe prospect of the world’slargest economy defaulting onits debt edged nearer, but bythe close of the session updatesfrom Washington had lifted it22.5 points to 6571.6.

In New York, the Dow JonesIndustrial Average surged 200points ahead, a rise of morethan 1 per cent. Germany’sDax was also up, althoughF rance’s Cac 40 failed to climbout of the red by the end of thesession.

On currency markets, ster-ling slipped against a resur-gent greenback, off one cent to1.59 US dollars, while it wasflat against the single cur-rency at 1.18 euros.

Royal Mail lost some of itspost-flotation froth, down 3 percent or 14p to 475p – althoughinvestors are still enjoying arise of more than 40 per cent onthe Government’s price taglast week.

Some blue chips also re-mained under pressure afterstar fund manager Neil Wood-ford quit Invesco Perpetual.

Shares in firms in which hehas built up holdings droppedafter the announcement, withBAE Systems initially downagain yesterday before closingup 4.1p to 443.3p on rising hopefrom Washington. The grouphas said it could be hit by thebudget wrangling.

Responding to one tweeterwho asked whether the movewas a publicity stunt, MrMorgan, who is the grandsonof company founder HarryMorgan, simply said “no” andwrote: “Thank you so much forall your support everyone#morg an.”

A spokesperson from theMorgan factory said: “T heMorgan family recognises themanagement contribution

that Charles has made to thefamily business as strategydirector and confirm that heremains a shareholder.

“However, to ensure continu-ing success, Morgan must lookto strengthen and review itsstrategies, and acknowledgethat our management team isbetter placed to steer the com-pany in the future.”

Visit www.southwestbusiness.co.uk todayand enjoy a free daily e-briefing on the latestbusiness news, opinion and features fromcentres of enterprise across the West Country

Turnover Dorset’s Wessex Groupaims to achieve by 2018

£45m“Confidence really does

appear to be increasing andacross our businesses we’veseen signs of a recovery,” headded.

The group has a plan to in-crease turnover to £45 millionby 2018, growing by betweenfive and seven per cent, and itis on course to do that.

“We have a ten-year planthat we put into place in 2008 –

Markets rallyon hopes of aUS debt dealYESTERDAY IN THE CITY

Charles Morgan of Morgan Cars

TOURIST POUND ABROADEURO 1.13 euroDOLLAR 1.53 dollarsAUSTRALIA 1.59 dollarsBRAZIL 3.12 realsCANADA 1.58 dollarsCHINA 8.71 yuan

HONG KONG 11.76 HK dollarsINDIA 87.01 rupeesJAPAN 149.78 yenSOUTH AFRICA 14.93 randSWITZERLAND 1.39 francsTURKEY 2.99 lira

First Intuition Bristol, 6th Floor City Point, BS1 6PL

Simon Wilshire CIMAT4 - March / May 2013Fiona Walker ICAEWAdvanced Stage Business Change - July 2013

Samantha Barnes (2 papers)Tom Foster (1 paper)

- June 2013ICAEW Professional Stage

approved rate for all papers byfirst intuition Bristol students - June 2013

ACCA92% pass rate

100% pass rate

3 regional firsts

2 world firsts

ICAEW Advanced Stage & Case Studyfor all our first time students - July 2013

fi.co.uk

4 WEST COUNTRY BUSINESS THURSDAY OCTOBER 17 2013 WESTERN DAILY PRESS WDP-E01-S3

• Over 130 specialist companies• FREE one-to-one expert consultations• Daily seminars and masterclasses• Ask the Experts feature• Planning Clinic

*A transaction fee of £1 applies per booking. Quote DAILYPRESS to claim £7 ticket offer. Discount applies to standard one day ticketonly. Other ticket options are available, see website for details. This is an advance ticket offer and must be redeemed before 3pm on15th November 2013.

• Over 130 specialist companies• FREE one-to-one expert consultations• Daily seminars and masterclasses

Whether you’re adding an extension,updating your kitchen or bathroom,or building your own home fromscratch – we’ll help you get there!

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WESTERN DAILY PRESS THURSDAY OCTOBER 17 2013 WEST COUNTRY BUSINESS 5WDP-E01-S3

Move is a hitwith producerWa t e r m a nBY EVA JONESwdnews@b-nm.co.uk

Record producer Pete Water-man sang the praises of a heattransfer specialist when thecompany marked its move to anew headquarters.

Mr Waterman, honorarypresident of the CombustionEngineers Association (CEA)– and lover of all things steam– was among 60 customers,suppliers and dignitaries cel-ebrating Fulton’s move to anew £3.5 million, 43,000 sq ftBristol-based office.

The dignitaries also in-cluded US-based ownersRonald and Bram Palm.

In his speech, Mr Watermanwelcomed Fulton’s decision tobring the manufacturing of its

ing team that wrote and pro-duced a succession of hits i n g l e s.

Guests were given guided-tours of Fulton’s new facilityand a demonstration of itsstate-of-the-art plasma cutterand, following speeches fromBram Palm and Mr Water-man, the company was presen-ted with a commemorativeplaque from the CEA.

Commenting on the move,Fulton UK’s managing direct-or Paul Richards said: “T hemove to the new facility hashelped us to manage currentdemand and plan for thefuture. Being a much largerfacility, it has also helped toboost morale among theFulton team as the offices andmanufacturing areas arelighter, brighter and a nicerenvironment in which towo rk . ”

F u l t o n’s new UK headquar-ters creates a centre of ex-cellence for the company’sheat transfer products andprovides comprehensive cus-tomer support, from applica-tions advice and sales pro-cessing, through to delivery.

Because Fulton stayedwithin the Bristol area andhas not lost a single employeebecause of the relocation, thesame experienced teams areavailable to help with enquir-ies for the company’s range ofthermal fluid, fuel-fired andelectric steam boilers, hotwater boilers and ancillaryp ro d u c t s.

The site also accommodatesnew training and seminar fa-cilities created to enable qual-ified staff to keep customersup to date with the latestproducts and applications;and host the company’s re-cently announced City &Guild certified trainingcourses, which offer a mix oftheoretical and practical op-erational assignments.

For further information callFulton on 0117 972 3322, emailu k . s a l e s. o f f i c e @ f u l t o n . c o m orvisit w w w. f u l t o n . c o. u k .

Taunton-based Royal Wedding gown designer Sassi Holford has showcased her 2014 couture collection in theelegant surroundings of the In and Out Club in St James, London. She holds the title of Best Dress Designer andBritish Bridal Designer of the Year. Alongside her Taunton boutique she has another in South Kensington, London.She made the gown worn by Autumn Phillips when she married the Princess Royal’s son Peter Phillips in 2008

Award for pioneers of device that stops drink-drivers starting engineA Midsomer Norton companywhich has pioneered the in-troduction of an alcoholbreathalyser immobilisersystem has won an award forits innovation.

When fitted to a vehicle, thedevice prevents any driverfrom starting the enginebefore he or she has passed asimple breath test.

The device has been pro-moted in the UK by MidsomerNorton Enterprise Park firmAlcolock GB, and managingdirector David Whittock saidthat the device could quitesimply save lives.

The firm, whose customers

include National Express, wasnamed Company of the Year atthe recent Coach and BusS h ow.

Mr Whittock said: “We werethe first to introduce this tech-nology into the UK, and nowwe specialise in making sureour customers get what theyrequire, supported by dedic-ated engineers and after-saless e r v i c e.

“By proving to our custom-ers it really can make ourroads a safer place, business ison the increase year on year.”

While the legal limit fordrivers is 35mcg of alcohol per100ml of breath, the limit set

by the breathalyser can be ad-justed lower.

Mr Whittock said: “We re-commend a lower limit for theequipment and it means thatcompanies can be assuredtheir drivers are not under theinfluence of drink when theyd r ive. ”

The equipment can also bedesigned so that an automaticwarning can be sent via textand email to the companyshould a driver fail beforetaking the wheel so that thebusiness can monitor its op-e r at i o n s.

The equipment is already onevery coach in the National

Express fleet and is also beingused by private drivers whowant to be sure they are belowthe limit before setting off.

Mr Whittock said: “This is asystem that can help save livesand we believe it will curb thedrink-driving habit.

“People are owning up tohaving a problem and often weget an approach from a con-cerned family.”

Alcolock GB was estab-lished in 2006. The companyaimed to introduce to fleet op-erators and individuals a solu-tion to manage their drink-drive activities either in busi-ness or their day to day life.

David Whittock says that the alcohol breathalyser immobiliser system hiscompany promotes can save lives

Financial services group Har-greaves Lansdown said it hasa record level of assets underadministration after thefigure increased by £2.9 billionin the three months to Septem-ber 30 to £39.3 billion.

Total active client numbersrose by 20,000 to 528,000 asrevenues improved 13 per centto £77.9 million for thequar ter.

Chief executive Ian Gorhamsaid: “The first quarter of thefinancial year is traditionallythe quietest. However, we arepleased to report exceptionalactivity in the first quarter ofthe 2014 financial year.

“The beginning of thesecond quarter has seen un-precedented public interest inthe flotation of the RoyalMail.

“Public offerings of well-known companies have his-torically substantially boos-ted our client numbers. Therules of the offer prevent us

Record level ofassets underadministration

from immediately disclosingdetails of participationthrough Hargreaves Lans-down, but suffice to say it wasi m m e n s e.

“In addition to interest fromexisting clients, a large pro-portion of our Royal Mail in-vestors were new clients,many investing for the firstt i m e.

“A minority of clients ex-perienced a reduction in ser-vice around the Royal MailShare Offer period primarilybecause of the sheer demandto participate through Har-greaves Lansdown. We con-sider there are no notable fin-ancial implications, but we donot underestimate the incon-venience caused to some cli-ents, and have apologised toclients who experiencedd e l ay s.

“In the coming months wewill be launching our iPadApp and a number of othermajor new initiatives. Weremain confident of growingthe business further.”

PeteWatermanpraisedFulton formovingmanufacturingto the UK

larger boiler pressure vesselsfor UK and export marketsfrom Fulton’s facility in Chinato Bristol, at a time whenmany manufacturers aredoing the opposite.

Despite the many local, na-tional and internationalobstacles Fulton faced, he alsopraised the company for main-taining its presence in Bristoland protecting the jobs of localp e o p l e.

Mr Waterman is best knownas a member of the StockAitken Waterman songwrit-

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Hargreaves Lansdown revenues inthe three months to September 30

£77.9m

6 WEST COUNTRY BUSINESS THURSDAY OCTOBER 17 2013 WESTERN DAILY PRESS WDP-E01-S3

The former TJ Hughes storein Weston-super-Mare soldfor a cut price £670,000 atauction on Tuesday. Thestore, the biggest in theNorth Somerset resort, wentunder the hammer at CBRE’sauction in Mayfair. It had aguide price of £750,000. Thatitself was a considerable fallon the seven-figure sumagents had tried to secure forthe property privately. It isunderstood the property hasbeen bought by a firm thatspecialises in refurbishingderelict shops.

Resort’s biggest storesnapped up at auction

RISERS AND FALLERS, SHARES PAGE 8 >

Builders invited totake on sports starsBuilders are set to try theirluck batting against Englandand Somerset cricketerMarcus Trescothick andhitting a bullseye againstdarts star Wayne Mardle nextmonth. Bradfords buildersmerchants, which has storesin Sherborne and Yeovil andacross the South West, hasinvited more than 2,000traders to attend its TradeDeal Day at the WestpointArena in Exeter onNovember 20. The show isfree. For more details, visitw w w. b ra d fo rd s t ra d e d ay. c o. u k

Somerset company Jo Bird & CoLtd has been presented with theQueen’s Award for EnterpriseInternational Trade, recognising itsexport success, by Lord LieutenantLady Gass in a ceremony at itsHighbridge offices. The firm wasformed in 1985 and manufactureshigh performance cabinets for thesafe storage and protection of fireand lifesaving equipment

Lady Gass hands over award to successful exporter

With almost half of workersspending up to four hours aday dreaming of another job,a new app could help peoplefind their ideal career. TheCareer MoT, available foriPhones and Android phones,asks questions about ap e r s o n’s training andpersonality and then makessuggestions on careeroptions. The new app hasbeen developed and launchedby Bath-based PitmanT raining, and is available viawww.pitmancareer mot.com

App offers prospectof landing new job

Wolfy’s porridge nowavailable on trainsRail travellers can enjoy anew snack since aGloucestershire porridgebrand won a contract tosupply First Great Western.Wo l f y ’s, launched earlier thisyear from Stroud, is on trackfor a growth in sales, withone of its three flavours nowavailable to buy on the trainservice. The Creamy Porridgewith Berry Pot is made byStroud-based Kitchen GardenFoods, supplier of delis andfarm shops, which owns theWo l f y ’s brand.

A Devon yoghurt maker hassecured a listing into 400Dutch supermarkets – afterfounder Peter Duncan gave apresentation in Dutch to helpsecure the deal. Torrington-based Stapleton yoghurt isnow stocked in 400 Jumbostores in the Netherlands aswell as around 300 Delhaizeoutlets in Belgium. MrDuncan said that the businesswas targeting further exports,with its high fruit content andadditive free product a uniqueoffering on continentalsupermarket shelves.

Dutch acquire tastefor Devon yoghurt

Consultancy to adviseon tidal power projectA Bristol-basedenvironmental consultancyhas been appointed to adviseon the world’s first tidallagoon power station. SLRConsulting will providestrategic planning adviceahead of an application to thePlanning Inspectorate laterthis year for a project inSwansea Bay. The project, bydeveloper Tidal LagoonSwansea Bay PLC (TLSB)will be capable of generating240MW of renewable energy,enough for all of Swansea’sdomestic use.

MORE BUSINESS STORIES ONLINE AT WESTERNDAILYPRESS.CO.UK

Mobility equipment supplier wins retailer of month award

A Bristol firm has won a monthlysales award from a leadingnational supplier of mobilityscooters. Elite Mobility, whichprovides mobility equipment froma showroom in Staple Hill and wasset up 14 years ago by currentjoint proprietors Steve Hall andWayne Pegler, has been givenTGA’s Retailer of the Monthaward for September

Gym manufacturer flexes itsmuscles in growing marketBY JEFF WELLSwdnews@b-nm.co.uk

A Somerset gym manufactur-ing company is moving tobigger premises to keep upwith demand.

Watson Gym Equipmentsupplies handmade bespokeprofessional gym equipmentnot only to an extensive UKcustomer base, which in-cludes Bath University andBath Rugby, but is a globalsupplier to the health and fit-ness industry in the USA andacross Europe.

The company now exports60 per cent of its productsoverseas and is looking toexpand further, so it hasbought additional premises atCommerce Park IndustrialEstate, Frome, to support itsgrowth strategy.

The 6,381 sq ft site is theheadquarters for a company

established in 1998 by ownerand director Simon Watson,and now experiencing anannual turnover in the regionof £2 million.

Mr Watson said: “P u rch a s -ing the new premises is amajor step forward in ourgrowth strategy.

“We started out in premisesthe size of a double garagewith two employees and thenew space will allow us tomeet an increasing demandfor our products as well ascreate a showroom for poten-tial customers to see firsthand the gym equipment andfactory where it is manufac-tured from start to finish herein the UK.”

More than 20 tonnes of Brit-ish mild steel are delivered atthe factory each week, whichis then manufactured intomore than 200 pieces of gymequipment for customers.

Educated at Beechen CliffSchool in Bath, Mr Watsondesigned his first piece of gymequipment to satisfy his ownhealth and fitness require-ments. Having undertaken anapprenticeship with the Min-istry of Defence at Boscombe

ture of welders and uphol-sters, packers and drivers.

Barclays provided a mort-gage of £328,000 to make themove into new premises pos-sible. Brian O’C o n n o r,B a rcl ay s ’ business manager,Frome, said: “The investmentin the new premises will nowenable the company to buildon its strengths and growtheir market share. WatsonGym Equipment is a Britishproduct through and throughand its appeal for quality andservice will ensure the firmhas an extremely brightfuture ahead.”

Peter Wheelhouse, econom-ic development and regener-ation manager at Frome TownCouncil, said: “Watson GymEquipment is a high per-former in this sector and weare proud of what has beenachieved. We wish Simon wellfor the future.”

The primary focus of the East Bristol Bakery that Alex Poulter opened in 2012 is retail customers, but it is expanding its wholesale cake business

Alex pushes himself to put bread on the tableUnemployment might bedown, but there are m a nypeople working in unfulfillingminimum wage roles, search-ing for more stability and dir-ection.

A good example of this is 28-year-old Alex Poulter, fromEaston in Bristol. Before 2009Alex didn’t have a set careerpath or any real direction, fre-quently moving between min-imum wage jobs in shops and

bars. Although he enjoyed as-pects of this work, he neverfound it fulfilling, and wasconstantly considering whatelse he could be doing.

Following a year of con-stantly baking for house-mates, colleagues, family andfriends, Alex pushed himselfto fit in a day a week of workexperience with a bakeraround his full-time job.

When it became clear that

this was the career path hewanted to follow, and findingno suitable vacancies locally,he decided to set about open-ing his own bakery.

East Bristol Bakery offi-cially launched at premises onSt Mark’s Road in October2012, and now employs fourstaff, with a turnover of£100,000 in year one.

It’s a traditional craftbakery in the heart of the com-

munity, making simple, tastybread without any unneces-sary additives or ingredients.

It also makes cakes to a vari-ety of dietary requirements,winning “Best Local Cake” atthe 2013 Bristol Good FoodAw a rd s.

In the future it aims to opena café and bar to complementthe bakery and maintain theface-to-face interaction withits customers.

Down, he worked as a welderand fabricator which gavehim the insight and know-howto start producing his ownequipment.

The business started upwith just two employees andnow over a decade later em-ploys 22 full-time staff, a mix-

SMART MOVEwesterndailypress.co.uk

A major investment in smarttechnology could boostBristol’s economy – full storywww.westerndailypress.co.uk

WESTERN DAILY PRESS THURSDAY OCTOBER 17 2013 WEST COUNTRY BUSINESS 7WDP-E01-S3

Leading revival of great British brandAfter a year which has seen itenter and exit administration,Axminster Carpets is well andtruly back in business underchairman Stephen Boyd. LizParks joined him for a tour ofthe firm’s East Devon factory

Five minutes into an inter-view with Axminster Carpetschairman Stephen Boydcomes a somewhat surreal in-terruption as a staff memberpokes her head round the doorand says: “Mr Boyd, yoursheep has arrived.”

It’s an odd moment, but ittranspires that such is his en-thusiasm for his “n ew ” bu s i -ness that, after spotting thesteel sculpture of a Jacob’ssheep at an exhibition inLangport, Somerset, hebought the artwork himself todisplay at the world-famouscarpet maker’s East Devonheadquar ters.

The next ten minutes or soare spent unloading the largesheep, then it’s back to busi-ness as, tucking into a Tun-n o ck ’s tea cake, Mr Boydrelates how Axminster isdoing since its administration

Stephen Boyd has run the BritishCellophane factory at Bridgwaterand served as chairman at Pittardsand Swallowfield during his career

When Thomas Whitty first beganmaking Axminster method carpets

1755back in March. Turnover hasdoubled between now and itsfirst month back in businessand it is now very close to thesales target that was set as itcame out of administration.

When the old business wentunder it laid off 300 employees.When Axminster 2.0, nowcalled Axminster Carpets(2013) Ltd, was launched itkept on the remaining 100 staffand has since recruited an ad-ditional 50 workers.

Mr Boyd became involvedwith Axminster after MarkGreaves, from the company’sauditor Francis Clark, wasasked by administrators if hecould suggest anyone whocould help turn the businessa ro u n d .

Then chairman of Welling-ton-based cosmetics firmSwallowfield and Yeovil-basedleather goods business Pit-tards, Mr Boyd’s name quicklyentered the frame.

“I’m used to situations likethis where the administratorshave to move fairly quicklybecause there is always therisk you will lose the customerbase while you’re sortingthings out,” he said.

The deal saw three investorsput money into the business –Stephen with a majority stake,another individual and theAxminster directors.

“It’s such an exciting pro-spect to take on an iconicbrand like this which, forwhatever reason, has got intodifficulty and to bring it backinto its full glory,” he said.

The contracts are certainly

This attention to detail com-bined with the expertise of itsstaff and specialist machinerythat can combine up to 20 dif-ferent colours into a singlecarpet are the reason forAxminster’s long-standingreputation for quality.

This is why, says Mr Boyd,the company’s client list in-cludes the Albert Hall andBuckingham Palace whichhave both required the firm toproduce intricate designswhich must work in large, un-usually shaped spaces.

“The whole intention is topush ourselves up and up tothe top end of the businessbased on ability and skill,” hesaid.

As we tour the sprawlingAxminster factory, past car-pets in various stages of pro-duction,Mr Boyd reels off a listof where the various weavesare headed for. EasyJet,Cathay Pacific, Siemens andChiltern Railways are amongthe transport brands thatAxminster has built a strongreputation with, creating highquality, hard-wearing andlightweight carpets.

A black and gold ostenta-tious design that’s part-fin-ished on a loom as we walk

Number of colours that Axminstercan combine into a single carpet

20past is for a hotel in Americaowned by Donald Trump.Other recent orders have in-cluded one for a committeeroom in the US House of Rep-re s e n t at ive s.

It’s clear from the way MrBoyd speaks that he’s throw-ing himself into his role aschairman – and relishing thechance to breathe new life intoa heritage brand.

He said: “There was aFamily Fortunes questionwhere families were asked toname a chocolate business and76 per cent chose Cadbury’s.Then they were asked to namea carpet business and 81 percent said Axminster. As abrand it’s even more iconicthan Cadbury’s – it’s such anexciting prospect to dosomething with that brand.”

One of the reasons for thefir m’s administration, MrBoyd believes is that it had notmoved on from its heyday inthe 1970s and 80s. He is part-way through making somechanges aimed at bringing thebusiness up to date.

An apprentice programmeis about to start and the com-pany has, for the first time inits history now got two femaledirectors on its board.

And with changing timesmeaning that many house-holders now have solid floorsAxminster is, for the first timein its 258-year history about tomove into rug production.

“It’s a great British brand –it’s just fabulous,” he says,grinning broadly, before Il e ave.

coming in and the “n ew ”Axminster Carpets has intro-duced a more efficient pro-duction system that has seen itdecouple from its Buckfastspinning mill, while transfer-ring some of the equipment toits East Devon base.

A training programme forstaff, called Pride and Passion,has also been introduced withthe aim of making everyoneresponsible for the quality ofthe finished product.

The factory uses a mixtureof modern and traditionaltechnology with a yarn feed insystem called “smart creel” aswell as old-style bobbins. In adarkened, upper level of thefactory, light is shone up frombeneath carpets to show anygaps in the weave. Any minorflaws are then corrected byhand.

Stephen Boyd says that his background in chemical engineering, whichincluded a stint working in the textile industry, has given him all theinsight he needs into Axminster’s manufacturing processes; above,working looms in the factory, and a sample of carpet produced there

8 WEST COUNTRY BUSINESS THURSDAY OCTOBER 17 2013 WESTERN DAILY PRESS WDP-E01-S3

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West stocks highlighted

AEROSPACE & DEFENCEAvon Rubber 5331/2 -91/2 5501/2 3101/8B AE 4431/4 +41/8 468 3003/4Chemring Group 215 +31/2 3531/4 2111/8Cobham 276 -4 3073/4 1901/8Me g gitt 546 +21/2 564 3661/4QinetiQ 1931/8 +27/8 2111/8 179Ro l l s - Ro yc e 1102 -13 1240 8441/2Senior 2781/4 +133/8 2883/8 1857/8Ultra Electronics 1914 +42 1981 1505

AUTOMOBILES & PARTSGKN 3673/4 -1/4 3677/8 201To ro t ra k 27 -1/4 351/2 231/2

BANKSB a rc l ay s 2835/8 +33/4 3337/8 2271/2Bk of Ireland 211/2 +11/8 203/8 73/4HSBC 6853/4 -15/8 7697/8 5953/4Lloyds Banking Gp 761/2 - 78 401/4Royal Bank of Scotland 3791/8 +21/8 3847/8 2661/8Standard Chartered 14991/2 +28 18371/2 1395

BEVERAGESBarr (AG) 5211/2 +1/2 5881/2 4321/4Britvic 600 +14 600 3491/8D i age o 1938 +3 21361/2 17461/2SABMiller 3040 +9 3657 2599

CHEMICALSC a rc l o 389 -1 501 3423/4Croda Intl 2505 -31 2841 2164Elementis 2351/4 -25/8 275 2041/4Johnson Matthey 2960 -18 2987 2190Por vair 2623/4 -53/4 2981/2 133Synthomer 249 +67/8 2491/4 146Tre at t 6021/2 -6 6321/2 356Vi c t rex 1634 +6 1765 1380Zotefoams 190 -11/2 224 1861/2

CONSTRUCTION & MATERIALSAlumasc 127 137 791/2Balfour Beatty 2833/8 +83/8 3203/4 2075/8Boot (Henry) 1861/2 +31/2 201 1231/2Boustead 181/2 181/2 181/2Clarke (T) 673/8 -1/2 69 40Costain 266 306 2261/4CRH 1580 +18 1580 1090Galliford Try 1140 +5 1140 678Gleeson (MJ) 3421/8 +47/8 3543/4 142Keller Group 1046 +6 1161 565Kier Group 1772 +30 1772 1106Kingspan Group 10511/2 1060 6133/8Low & Bonar 743/4 +11/4 80 50Marshalls 182 +1/2 184 85Morgan Sindall Gp 813 -2 819 508North Midland Const 1171/2 1471/2 95Po c h i n s 331/2 34 20Titon 44 451/2 22

ELECTRICITYDrax Gp 641 +2 7171/2 520SSE 1423 -20 1676 1364

ELECTRONIC & ELECTRICAL EQDialight 1182 +7 1399 9991/2Domino Printing Sci 680 +15 717 522Eurodis Electron 1 1 1Halma 540 +51/2 578 4103/8Laird 2243/8 +23/8 2491/4 1711/8Morgan Advanced 2997/8 +1/4 318 2361/8Oxford Instruments 1342 -13 1752 1209Re n i s h aw 1676 -16 2081 1494Ross Group 11/4 13/8 1/2Spectris 2245 +12 2470 1594TT Electronics 1981/2 +23/4 200 114Vo l ex 1197/8 +1/2 1703/4 84Xaar 800 898 2571/2XP Power 1570 1575 927

EQUITY INV INSTRUMENTSAberforth Smaller Cos 9691/2 -11/2 1000 655Alliance Trust 4383/4 +61/4 4641/4 3633/4Bankers IT 574 +41/2 5821/2 427BlackRock Wld Mining 4853/4 +3/4 6221/2 4241/2British Assets Trust 1401/4 +3/4 1401/4 1163/8British Emp Secs&Gen 4951/2 +31/2 522 445Caledonia Investment 1865 +23 1935 1457City of London IT 367 +1 3741/2 3033/4Dexion Absolute 1545/8 +3/8 155 137Edinburgh Inv Tst 563 -91/2 621 4861/2Electra Private Equity 2242 +13 2398 1785Fidelity Euro Value 1533 +18 1533 1174Fo re i g n & C o l o n i a l 3733/4 +33/4 383 3041/4JP Morgan Japan IT 2441/2 -3/4 2473/4 1541/2JPM Euro IT Gwth 217 +15/8 217 160Mercantile IT 1447 +25 1447 1020Merchants Trust 4981/4 +33/8 507 3611/2Middlefield Canadian 104 +1/2 115 991/2Monks Inv Tst 386 +31/2 390 300Murray Income Tst 782 +11 820 6561/2Murray International Tst 1131 +3 1245 9821/2North American Inc 855 9151/2 6671/2Perpetual Inc&Grwth 352 -1/4 364 2751/2RIT Cap Partners 1242 +4 1285 1108Scottish Inv Tst 596 +10 606 464Scottish Mortgage 965 +11 965 6671/2SVG Capital 3931/8 +13/4 416 2577/8Temple Bar IT 1206 +10 1232 961

Templeton Emerging Mkts 580 +2 678 514Witan Inv Tst 639 +3 644 474

FIXED LINE TELECOMSBT Group 359 +45/8 359 2121/2Cable & Wire Comm 421/8 +11/8 461/4 341/4Colt Group 1221/2 -11/8 1351/2 931/2KC O M 963/8 +23/8 963/8 681/4Talktalk Telecom 2553/8 +1/4 276 1783/4Telecom Plus 1412 +32 1412 830

FOOD & DRUG RETAILERSG re g g s 439 +6 5231/2 3921/8Morrison (Wm) 2811/8 -5/8 3021/2 2485/8Sainsbury (J) 3975/8 +21/4 4003/4 3217/8Te s c o 3651/2 +1 3873/4 3101/2Th o r n t o n s 103 -13/4 1073/4 285/8

FOOD PRODUCERSAnglo-East Plantations 638 -6 754 621Assoc Brit Foods 1995 +30 2031 1345Carr's Milling 1719 +79 1719 909C ra n sw i c k 1075 +20 1189 733Dairy Crest Group 494 +1 5281/2 3427/8D ev ro 3191/4 +51/4 380 2897/8Glanbia 8263/8 +155/8 937 616Greencore Gp 162 +1/2 162 88Kerry Group A 37031/2 -105/8 40741/2 31925/8Premier Foods 1761/2 +81/4 1761/2 593/4REA Hldgs 3721/2 -2 500 3591/4Tate & Lyle 7621/2 +71/2 883 711U n i l eve r 2399 -4 2885 2262

FORESTRY & PAPERMondi 1094 +10 1102 625

GENERAL FINANCIAL3i Group 363 +41/4 3871/2 2053/4Aberdeen Asset Mgt 4131/2 +31/4 4921/8 3181/4Brewin Dolphin 271 +1/4 283 1693/4Close Bros Group 1276 -24 1300 830F&C Asset Mngmt 1013/8 +31/8 1103/8 90Guinness Peat 283/4 331/2 231/2Hargreaves Lansdown 1090 +50 1090 6791/2Henderson Group 2055/8 +31/8 2055/8 1091/8ICAP 3651/8 +3/4 4221/4 2803/4IG Group 6101/2 +6 6131/2 4163/4Intermediate Capital 4845/8 +53/4 5011/2 2871/4I nve s t e c 431 +21/4 5131/2 3643/8IP Group 137 -1/4 1585/8 1051/8London Stock Exchange 1621 +1 1652 930Man Group 827/8 -3/4 1343/8 713/4Pa rago n 336 +25/8 3545/8 237Provident Finl 1615 -41 1773 1287Rathbone Brothers 1537 +32 1691 1208S c h ro d e r s 2568 -74 2650 1518Schroders NV 2159 -40 2209 1218Tullett Prebon 3243/4 -41/4 3957/8 219World Trade Systems 41/2 41/2 41/2

GENERAL INDUSTRIALSBritish Polythene 650 +2 650 3721/2REXAM 481 -51/4 5471/2 4305/8RPC 4741/8 +113/4 4773/4 378Smith (DS) 2991/2 +41/2 2991/2 1971/2Smiths Group 1398 +3 1419 1018

GENERAL RETAILERSA l exo n 27/8 27/8 27/8Ashley (L) 251/4 -1/4 291/2 24Beale 10 201/2 91/2Brown (N) 519 +91/2 577 316Caffyns 430 450 365Carpetright 620 -271/2 7011/2 585Carphone Whse 259 -2 261 162Dar ty 731/2 -11/2 881/4 39D eb e n h a m s 110 +13/4 1233/4 783/4Dignity 1355 -3 16871/8 9925/8Dixons Retail 463/8 +1/4 475/8 203/8Dunelm Group 853 -11 1047 613Euro Home Retail 21 21 21Findel 2403/4 +3/4 2533/4 108Flying Brands Units 25/8 61/2 23/8French Connection 283/4 -1 34 23Halfords 3901/4 +1/4 406 299Home Retail 178 +37/8 178 1041/8Howden Joinery Gp 3135/8 +35/8 3135/8 1603/8HR Owen 171 1723/4 61I n c h c ap e 623 +1 645 3803/4JD Sports Fashion 1155 +5 1155 670Kingfisher 3795/8 +5/8 420 2687/8L o o ke r s 1221/2 1281/2 711/2Mallett 80 841/2 611/2Marks & Spencer 4853/4 +23/8 5131/2 359Moss Bros Group 68 -1/2 747/8 531/2M o t h e rc a re 3923/4 4923/4 2571/4N ex t 5120 +50 5205 3542Pe n d rago n 341/2 351/4 131/2Signet Jewelers 4659 +93 4934 3053Ted Baker 1669 -38 2017 920Topps Tiles 853/4 +1/4 94 47WH Smith 900 9051/2 6061/2

HEALTH CARE EQPMNT & SERVBioquell 1521/2 160 130Consort Medical 9021/2 +11/2 9021/2 6601/2Smith & Nephew 783 -5 800 638Southern CrossH e a l t h c a re

61/4 61/4 61/4

Synergy Healthcare 1020 1165 9191/2UDG Hlthcare 3241/8 -7/8 3605/8 217

HOUSEHOLD GOODSAga Rangemaster 133 -2 1353/4 543/8Barratt Developments 3421/8 +3/4 3551/4 1811/4B e l l way 1474 +21 1502 951Berkeley Grp Hldgs 2303 +32 2340 1480Bovis Homes 783 8511/2 4891/4G a s ke l l 21/4 21/4 21/4Headlam Group 378 -3 415 3021/2McBride 1161/2 +1/4 1463/4 101Pe r s i m m o n 1211 +9 1305 745Reckitt Benckiser 4309 -55 4950 3633Re d ro w 254 +2 2551/8 1527/8Taylor Wimpey 1113/4 +15/8 1133/4 565/8Vi c t o r i a 2321/2 245 1871/2

INDUSTRIAL ENGINEERINGAssoc Brit Engineering 135 145 115B o dyc o t e 6601/2 +7 685 3623/4Castings 4181/2 -61/2 450 291Fe n n e r 4087/8 +51/2 4351/4 3057/8G o o dw i n 37121/2 -71/2 3820 1575Hill & Smith 462 +2 480 369IMI 1528 +29 1528 902Melrose Ind 3035/8 +1/8 3123/4 2067/8Molins 1721/2 +21/2 178 1231/2MS Intl 1741/2 2611/2 1731/2Re n o l d 391/4 -3/4 411/4 163/4Rotor k 2859 +15 3037 2229S eve r f i e l d - Ro we n 64 +41/2 1473/4 371/4Spirax-Sarco 2898 -21 3090 20031/4Tex Hldgs 75 781/2 521/2Tr i f a s t 70 703/4 401/2Vitec Group 686 +5 736 559Weir Group 2338 -19 2474 1688

INDUSTRIAL METALSFirst Quantum Minerals 1121 -1 1492 8721/2

INDUSTRIAL TRANSPORTATIONBBA Aviation 3173/4 +1 326 1953/4Braemar Shipping 518 +16 520 350Clarkson 2360 -10 2370 1150Fisher (J) 1104 +12 1148 768Irish Continental Units 21513/4 +57/8 22131/8 15007/8Ocean Wilsons 960 11571/2 8971/2Stobart Gp Ord 1231/2 -11/2 1251/2 741/2UK Mail Gp 590 -9 645 265Wincanton 115 +11/2 115 433/4

LEISURE GOODSGames Workshop 775 8231/2 601H o r n by 783/4 871/2 551/4Photo-Me 1253/4 +23/4 1253/4 49

LIFE INSURANCEAv iva 4353/8 +71/4 4353/8 2941/8Hansard Global 115 +1/4 136 841/4Legal & General 2023/4 +15/8 2035/8 1321/2Old Mutual 1971/4 +11/8 2215/8 1661/8P ru d e n t i a l 1208 +13 1232 8341/2Re s o l u t i o n 341 +41/4 341 2071/4St James Place 640 +81/2 6411/2 3773/8Standard Life 3631/4 +13/4 4213/4 2821/4

MEDIA4imprint 595 +10 600 335Bloomsbury Pub 1681/2 +1/4 169 102BSkyB 878 +31/2 8991/2 709Centaur Media 511/4 -15/8 60 31Chime Comms 3151/4 -23/4 324 2061/2City of London Group 611/2 75 581/2C re s t o n 1013/4 109 751/4Daily Mail & Gen Tst 8621/2 8821/2 515Daily Mail A 789 +161/2 835 4511/4Euromoney Instl Inv 1080 +10 1209 7471/2Future 147/8 +21/4 213/8 121/4Haynes Publishing 195 195 157H I BU 1/8 1/2 1/8Huntswor th 661/2 -1/2 67 37Indep News&Media 7 +1 85/8 21/2Informa 524 +4 545 3801/2ITE Group 2881/8 +23/4 3073/8 1831/2ITV 1901/8 +31/8 1901/8 855/8Johnston Press 127/8 +1/8 19 97/8M o n ey s u p e r m a r ke t . c o m 1473/4 +23/4 221 134Pe a r s o n 1314 +3 1350 1119Quarto Group 1601/2 1621/2 136Reed Elsevier 843 -21/2 8531/2 600R i g h t m ove 2536 +12 2536 1436STV Group 2721/2 +11/2 2721/2 933/4Tarsus Group 234 -51/2 2483/4 175Trinity Mirror 125 1281/4 511/4United Business 7221/2 +6 788 636UTV 188 -11/2 195 1151/2Wilmington 2181/2 +41/2 2181/2 1273/4WPP 1290 +9 1296 788

MININGAnglesey Mining 51/4 151/2 51/4Anglo American 15591/2 -91/2 2072 1207Anglo Pacific Res 1981/4 -21/2 289 161Antofagasta Hldgs 891 +21/2 1381 7841/2Aquarius Platinum 483/4 -11/2 751/4 36Avocet Mining 14 +1/4 821/4 63/4BHP Billiton 1850 +71/2 2236 16661/2Bisichi Mining 110 +11/2 1261/2 95Coalfield Res 57/8 +1/4 87/8 27/8Ka z a k h my s 2605/8 -71/2 826 2333/4Ke n m a re 23 -15/8 423/4 23Lonmin 323 -13/4 5151/2 2531/2

Randgold Res 4393 -7 7615 3972Rio Tinto 3215 3757 2582Vedanta Res 1046 -4 1335 992

MOBILE TELECOMMUNICATIONSI n m a r s at 721 +51/2 749 5421/2Vodafone Group 225 +3 225 1541/2

NONLIFE INSURANCEAdmiral Grp 1215 -8 1416 1019Amlin 410 4351/8 3641/8B e a z l ey 2191/8 -17/8 2423/4 1671/4Catlin Group 505 +81/4 5521/2 4551/4Jardine Lloyd Thom 9681/2 +161/2 9681/2 723RSA Insurance Gp 119 +1/2 1361/4 1073/4

OIL & GAS PRODUCERSBG Group 12251/2 +81/2 13501/2 10001/2BP 4453/4 +11/8 4831/4 4165/8Cairn Energy 276 +2 2961/8 2513/4Dragon Oil 6101/2 +101/2 662 510For tune 81/8 - 121/2 71/8JKX Oil & Gas 711/4 -3/4 803/8 481/2Premier Oil 3313/4 -31/4 4001/4 3211/4Royal Dutch Shell A 2060 +161/2 23091/2 1987Royal Dutch Shell B 21631/2 +201/2 2365 20771/2Soco International 3981/4 +3/8 430 3197/8Tullow Oil 1001 +14 1458 9751/2

OIL EQUIPMENT & SERVICESAMEC 1100 -3 1127 9651/2Hunting 810 941 716Pe t ro f a c 1409 -1 1737 1194Wood Gp(J) 793 -31/2 9151/2 7201/2

PERSONAL GOODSA bb eyc re s t 11/2 11/2 11/2Burberry Gp 1464 1667 1134C re i g h t o n 43/4 51/2 11/2Lambert Howarth 181/2 181/2 181/2PZ Cussons 4051/8 +61/4 4321/2 3263/8Worthington Group 3 8 3

PHARMA & BIOTECHArk Therapeutics 3/8 + 35/8 3/8A s t ra Z e n e c a 31591/2 -231/2 35211/2 27921/2B TG 3773/4 +41/4 3977/8 3171/2Dechra Pharms 695 +3 780 569G e nu s 1378 +38 1594 1284G l a xo S m i t h K l i n e 1575 1782 13171/2Hikma Pharmaceuticals 1113 +18 1113 7251/2Oxford Biomedica 23/8 - 27/8 13/8S h i re 2513 +23 2593 1727S k ye P h a r m a 891/4 -23/4 1013/4 431/2Source Bioscience 101/4 117/8 91/8Ve c t u ra 112 +1 117 77

REAL ESTATEBig Yellow Gp 461 -4 465 3227/8Bolton Group (Intl) 15/8 15/8 15/8British Land 6041/2 +4 658 506Capital & Regional 44 -1/4 441/4 223/4Cardiff Property 845 845 730CLS 1151 -23 1260 6561/2Daejan Hldgs 4055 +14 4200 2706Derwent London 2555 +20 2555 1999Development Secs 1983/4 -41/4 209 143G ra i n ge r 183 +41/2 1871/2 1051/8Great Portland Est 588 +7 598 4511/2Hammerson 5141/2 +6 554 4583/4Helical Bar 296 -2 3021/2 178Highcroft Invs 660 -10 695 560Intu Properties 3291/4 -3/4 366 3005/8Land Securities 968 +10 994 7621/2London & Assoc Prop 38 38 211/2McKay Secs 182 +13/4 182 1311/2Mountview Estates 6625 6625 4350Mucklow (A & J) 458 -12 500 3411/2Panther Securities 3271/2 3421/2 285Primary Health Props 313 -21/4 3641/2 3121/2Quintain Est & Dev 89 92 513/4S av i l l s 642 +21 6641/2 4021/2Schroder Real Est 351/4 351/4 351/4S E G RO 3257/8 +31/4 3257/8 2215/8Shaftesbur y 6111/2 +71/2 668 5221/2Smart (J) 85 901/2 721/2St Modwen Props 342 +7 342 194Stewart & Wight 526 600 525Town Centre 2241/2 +1 230 1783/4TR Property IT 2131/2 +11/4 2161/2 1571/2Unite Group 3943/8 +61/4 403 2603/4

SOFTWARE & COMP SERVAnite 763/4 -353/4 162 763/4DRS Data & Research 221/4 23 151/4Electronic Data Proc 68 +1 721/2 501/2E m bl a ze 491/2 61 43Fidessa Gp 1943 -17 2190 1275Gresham Computing 126 +21/2 1401/2 623/4Innovation Group 31 31 203/4I nve n s y s 501 -2 5091/2 270Ko f a x 3501/2 -21/2 388 2603/4M i c ro ge n 1273/4 1551/2 112Pa r i t y 351/2 -1/4 44 181/2RM 1113/8 -15/8 1141/4 64Sage Group 320 3871/4 3043/8SDL 259 590 259Triad Group 11 161/2 51/2

SUPPORT SERVICESAcal 295 +12 295 1573/4A g g re ko 1474 -11 2302 1442

Ashtead Gp 6501/2 +121/2 730 3501/4Atkins (WS) 1175 +7 1239 638Babcock Intl 1194 +5 1218 940B e re n d s e n 930 -5 939 563B ra m m e r 4713/4 +13/4 4821/4 2371/2Bunzl 1329 -1 1409 1009Capita Group 9631/2 -7 1057 713Carillion 3113/4 +5 3313/4 2443/4C o m mu n i s i s 64 +1 68 343/4DCC 2595 +15 2713 217/8De La Rue 946 +1 1075 8911/2Diploma 6601/2 +51/2 661 435E l e c t ro c o m p o n e n t s 2781/2 +57/8 2821/2 2037/8E s s e n t ra 7511/2 +8 830 543Experian 1183 +2 1288 980G4S 2403/8 -11/4 3131/2 2071/2Harvey Nash 911/2 -1/2 953/8 54H ay s 1223/4 +3/8 1223/4 763/4Homeser ve 2295/8 -13 2935/8 1855/8Hyder Consulting 533 +6 539 377Interser ve 6031/2 +9 6031/2 3491/8Intertek Group 3294 -10 3453 2800Jar vis 93/8 93/8 93/8Journey Group 149 +1/2 149 1151/2L a t ch wa y s 1275 1345 940L ave n d o n 1861/4 -21/4 1961/2 126Litho Supplies 5 5 5Macfarlane Grp 381/2 +1 381/2 237/8Management Cons 261/2 +1/8 32 211/4Mears Group 4123/4 -63/4 4301/4 283Menzies (J) 8411/2 +211/2 8411/2 573MICE Group 6 6 6Michael Page Intl 4711/2 -23/8 5021/2 3463/8MITIE Group 3127/8 +137/8 3127/8 248Nor thgate 4453/4 -33/4 4491/2 249Office2office 393/8 1301/2 333/4Pay p o i n t 1080 +10 1185 750Premier Farnell 219 +23/4 2383/8 1651/2Re g u s 1991/4 +51/4 1991/4 96Rentokil Initial 1073/4 -1/8 1111/4 85Ricardo 595 +5 595 3495/8Robert Walters 313 -5 335 191RPS Group 2763/4 +37/8 2763/4 1951/2Serco Group 527 +101/2 6831/2 5161/2Shanks 100 +21/2 100 73SIG 1921/4 +21/4 1933/4 102Smiths News 210 +16 211 142Speedy Hire 68 -2 70 311/2St Ives 1703/4 -21/2 1801/2 981/2S Th re e 349 -101/2 370 2991/4Travis Perkins 1778 +6 1778 1060Tribal Grp 1871/2 +5 2061/2 921/4Vp 505 -5 510 313Waterman Group 61 -2 63 361/2Wo l s e l ey 3240 -13 3483 26365/8

TECH HARDWARE & EQUIPMENTARM Hldgs 1030 +12 1097 591BATM Adv Comms 183/8 +1/8 21 133/4Bede 3/4 3/4 3/4CML Microsystems 525 -21/2 550 364CSR 530 -6 607 332F i l t ro n i c 655/8 -5/8 831/4 303/4Imagination Tech 2801/4 -31/4 552 2351/8Nor thamber 331/2 361/2 271/2Pa c e 294 +83/8 3191/4 1611/4Plasmon 3/8 3/8 3/8Spirent Comms 1241/4 -27/8 1691/4 118Vi s l i n k 441/8 -1/4 491/2 245/8Wolfson Microelectronics 1511/4 -3/4 2261/4 140

TOBACCOBritish Amer Tobacco 3250 +29 3784 30691/2Imperial Tobacco 2220 +31 2534 2120

TRAVEL & LEISURE888 Holdings 1645/8 +5/8 186 1023/4Air Partner 4871/2 +11/2 495 2721/2Bwin.Party Digital 1165/8 -31/8 156 1011/4C a r n iva l 2060 -7 2628 2030Compass 865 +1/2 9101/2 6711/2e a s y Je t 1279 +7 1448 6001/2Enterprise Inns 1561/2 +13/4 1561/2 653/4F i r s t G ro u p 1193/4 -3/4 2233/4 92Fuller S.T.A. 900 +241/2 969 726Go-Ahead Gp 1668 +4 1697 1220Greene King 8071/2 +2 8971/2 587Intercontl Htls 1853 +8 2039 1524Intl Cons Airl 350 +23/4 350 1543/4L a d b ro ke s 1867/8 +13/8 2431/8 1673/8Marston's 1481/2 +1/2 1651/2 1183/4Millennium & Copth 575 +9 5821/2 456Mitchells & Butlers 3951/8 +11/8 460 296National Express 256 -33/4 2747/8 1641/2Paddy Power 47473/4 -641/2 59781/8 46043/8Punch Taverns 145/8 -1/8 151/2 61/8Rank Group 154 -5 1771/2 1371/4Restaurant Grp 558 575 364Ryanair Hldgs 5233/4 +21/4 6341/8 3731/8Spor tech 84 -1/4 108 621/2S t age c o a c h 3343/8 +2 3375/8 2657/8Thomas Cook 1501/4 -7/8 1705/8 191/2TUI Travel 3763/4 +13/4 4011/2 2463/4Wetherspoon (JD) 736 +1 767 4933/4Wh i t b re a d 3275 +24 3303 2300William Hill 4193/4 -4 4941/2 3287/8

UTILITIESCentrica 3653/8 -21/2 4021/4 3103/4Dee Valley 1460 +15 1470 1325National Grid 752 -5 8471/2 682Pennon Group 6951/2 +3 7341/2 598

Severn Trent 1807 -7 2090 1513United Utilities 705 +11/2 7871/2 647

AIM1pm 401/2 457/8 131/421st Century Tech 75/8 -1/8 16 5600 Group 17 175/8 93/8A bb ey 758 758 530Advanced Medical S 961/2 +21/2 961/2 54Alkane Energy 391/4 -1/4 411/4 223/8Alliance Pharma 355/8 381/2 28Amerisur Resources 463/4 +1/4 58 391/4A m i n ex 21/4 - 53/4 2Andrews Sykes 3121/2 +17 3121/2 1991/2Antisoma 11/2 2 13/8Aor tech 1121/2 +61/2 1121/2 411/2API 731/2 92 543/4Ashley House 20 -3/8 203/8 107/8ASOS 5240 +100 5701 2135Aukett Fitzroy Robinson 5 51/8 21/4Avanti Capital 55 74 531/2Avesco Gp 2271/2 2271/2 154Bailey (CH) 200 2031/2 1521/2BCB Holdings 163/4 213/4 131/2Berkeley MineralRe s o u rc e s

21/8 - 3 21/8

Best of the Best 49 611/2 20Billington Hldgs 97 97 38Braime (TF & JH) 'A' N/Vtg

5421/2 5521/2 4721/2

Capital Mngt & Inv 1981/2 200 32Celtic 631/2 +3/8 66 371/2Chamberlin 89 185 76Clean Energy Brazil 25/8 71/2 25/8Clear Leisure 3 +1/8 51/2 27/8Coal of Africa 8 -1/4 23 71/8Colefax 2871/2 2921/2 2221/2Concurrent Tech 39 541/2 39Connemara MiningC o m p a ny

47/8 91/4 47/8

CPL Resources 5021/2 5071/2 2621/2Crimson Tide 15/8 13/4 11/8Cropper (J) 4171/2 -11/2 420 1701/2Daisy Gp 1501/2 -1 1511/2 85Dart Group 246 +23/4 2691/4 761/2Densitron Tech 6 93/4 51/4D ew h u r s t 500 5421/2 4371/2Dewhurst A 300 3721/2 2721/2Dillistone Group 1001/2 +2 1091/2 661/2Dolphin Capital Investors 405/8 405/8 253/4Ebiquity 120 1211/2 92E c ko h 243/4 243/4 137/8Eco Animal Health 194 -3 270 194Egdon Resources 85/8 117/8 65/8Eleco 223/4 241/8 7Eros Intl 2421/2 -21/2 277 1871/2Faroe Petroleum 1271/2 -11/2 1633/4 1051/2Fe e d b a c k 5/8 3/4 3/8FII Group 63/4 63/4 63/4Finsbury Food 691/2 +1/2 773/4 38Fletcher King 32 32 25Forbidden Technologies 301/2 -1/4 35 181/2Futura Medical 651/4 -11/4 80 473/4F y f fe s 65 651/2 37Global Energy 96 +1/2 1221/2 69Gooch & Housego 5801/2 +15 5801/2 415G ra fe n i a 213/4 321/2 181/2Great Eastern Energy 195 2731/2 195Green Compliance 11/8 8 7/8Griffin Mining 293/4 381/2 261/2GW Pharmaceuticals 147 -5 158 391/2Hampden Underwriting 130 1321/2 100Havelock Europa 191/2 223/8 111/4Hayward Tyler 493/4 -1/4 561/2 16Heavitree Brewery 325 3371/2 325Heavitree Brewery A 180 1921/2 175Helphire Grp 51/4 53/4 1Highland Gold Mining 681/4 -13/4 116 521/2H i rc o 20 523/8 191/4Hydro Intl 1101/2 126 871/2I S Solutions 473/4 473/4 361/2I m ag i n at i k 1/8 + 3/8 1/8Independent Res 73/4 -1/8 111/8 47/8I n d i go Vi s i o n 299 -61/2 530 2871/2Interior Services 2721/2 +11/2 2741/2 1321/2Iomar t 268 +1 319 192James Halstead 2891/2 -23/4 669 2373/4Jelf Group 861/4 941/2 591/2Johnson Service 51 513/4 335/8Latham (J) 375 399 270Leed Petroleum 1/8 - 1/4 1/8Lok'n Store 1911/2 +2 1911/2 1111/2London Capital 321/4 -1/2 63 271/2London Security 1790 1795 16871/2M&C Saatchi 300 -7 3161/2 170Majestic Wine 533 -51/2 545 397Mercer Resources 11/8 13/4Metro Baltic Horizons 111/4 131/2 33/4M i ra d a 93/8 +1/4 141/2 87/8Miton Group 42 +11/4 421/2 203/4Mulberry Group 1008 -61 1449 850Nanoco Group 1501/2 -71/2 199 565/8Nasstar 111/2 133/8 93/4Nationwide Accid Repair 601/2 78 481/2Netcall 45 +11/4 45 28Next 15 Comms 93 115 791/2Nichols 1145 +12 1237 7991/2Nighthawk Energy 105/8 -1/8 111/4 3North River Resources 5/8 11/8 3/8Northern Bear 231/2 231/2 111/2Numis Corp 2421/4 +1/4 251 1063/4Optimal Payments 286 +41/2 286 1021/2

Ottoman Fund 29 37 29O xe c o 111/4 +1/4 141/2 83/4Panmure Gordon & Co 140 225 1321/2Patagonia Gold 131/2 +3/4 27 8Paternoster Res 3/8 - 5/8 1/4Penna Consulting 86 -6 971/2 621/2Pennant Intl 801/2 891/2 38Personal Group 4113/8 +71/8 4431/2 320Petra Diamonds 1181/2 +1/4 132 993/8Petrel Resources 155/8 -1/4 271/8 6Pittards 25/8 25/8 17/8Por tmeirion 685 705 485Prime Active Cap 7 71/2 5Prime Focus London 55/8 93/4 33/8Prime People 721/2 -11/2 76 461/2P ro g i l i t y 8 -1/8 133/4 7Publishing Technology 4921/2 520 97Pursuit Dynamics 22 -1/8 521/2 9Qihang Eqpt 61/2 13 61/4Qonnectis 331/2 37 25RAM Active Media 2 101/2 2Rangers Intl 493/4 +1/4 93 411/2Real Good Food 601/2 +31/2 601/2 36Redhall Group 43 -1 75 411/2Re d s t o n e 7/8 103/8 3/4Renew Holdings 1451/2 +2 146 80RGI International 1271/4 137 981/8Rockhopper Exploration 1543/4 +51/2 1751/2 1123/4RTC Group 15 17 11Sabien Technology 381/2 +11/4 411/2 20S a fe l a n d 233/4 +23/4 233/4 51/4Sagentia Gp 1411/2 -31/2 147 821/2Scapa Group 86 -3 951/2 611/2SciSys 711/2 821/2 581/2Services Power Tech 43/4 57/8 33/4Ser voca 4 +1/4 4 23/8Sinclair (Wm) 1041/2 1531/2 1041/2Sirius Minerals 9 -1/4 291/4 83/8Slingsby (HC) 375 5371/2 375Software RadioTechnolog y

297/8 -3/8 361/4 177/8

Sopheon 991/4 150 741/2SPDI Secure 69 77 601/8S t at p ro 941/2 -1 106 731/2Sterling Energy 38 +3/4 411/2 331/4Stilo International 33/4 47/8 35/8Strategic NaturalRe s o u rc e s

77/8 28 77/8

Sutton Harbour 261/2 35 213/4S wa l l ow f i e l d 81 120 721/2Synetics 489 5021/2 2721/2Taliesin Property 1575 16471/2 1065Ta s t y 1121/2 -1 1131/2 501/2Taw a 17 451/2 17Telford Homes 3401/4 +91/2 3401/4 132Telme Group 1351/2 1391/2 86Ten Alps 11/4 23/4 11/8Terrace Hill 261/4 +1/8 261/4 93/4Thorpe (FW) 125 +10 136 92Total Produce 673/4 +13/4 673/4 38Trakm8 Hldgs 34 +43/4 34 16Transense Techs 67/8 -1/4 13 65/8Tr ave l ze s t 11/4 + 61/4 1/4Turbo Power Systems 1/2 + 7/8 1/8TVC Holdings 50 84 47Ultima Networks 1 11/4 3/4U n iv i s i o n 5/8 11/8 1/2URU Metals 21/4 -1/4 31/2 17/8Ve r n a l i s 287/8 -1/8 31 193/8Vertu Motors 60 +55/8 60 37VPhase 1/8 7/8 1/8Walcom Group 3 3 21/2Walker Greenbank 1461/2 160 661/4Weather Lottery 1/8 1/4 1/8West African Diamonds 11/8 31/8 7/8W YG 1091/8 -7/8 110 51Wynnstay Group 608 -11/2 6091/2 3981/2Wynnstay Props 275 275 2721/2XXI Century Inv 13/4 4 15/8Young Brewery A 990 10821/2 6921/2Young Brewery N/Vtg 6571/2 7271/2 5321/2Zincox Resources 153/4 52 141/2Zoo Digital 111/4 171/2 61/4

BRITISH FUNDSConsol 21/2% 572 3/32 -1/4 661/32 561/16

Consol 4% 921 5/16 -1 1/16 1002 9/32 901/8Conv 2.5% 791 9/32 -1 3/32 911 7/32 76Tres 21/2% 583/32 -5/16 671/2 533/4War Ln 31/2% 82 -1 3/32 959/16 792 7/32

Tres 8% 15 1151 5/16 -1/32 1237/8 1151 5/16

Tres 21/2% IL 16 3421/4 -1/16 3537/8 3397/8Tres 83/4% 17 1285/32 -3/32 1387/32 1273 1/32

Tres 8% 21 1399/16 -1/4 1532 9/32 1385/8Tres 5% 25 1192 7/32 -3/8 1331/2 1185/32

Tres 6% 28 1337/16 -7/16 1509/32 1311 5/32

Tres 41/4% 32 1112 9/32 -5/16 1252 3/32 1091 1/16

ReportsTODAYInterims Booker, BSkyBTrading updates B r i t v i c,Diageo, Mothercare, Rank( AG M )TOMORROWTrading update P rov i d e n tFinancialReport CML lendingestimate for September

Major movers

Senior 27814 +133

8 +5.06 +8.50Hargreaves Lansdown 1090 +50 +4.81 +11.05MITIE 3127

8 +1378 +4.65 +10.21

Micro Focus Intl 798 +30 +3.91 +7.84Kentz Corp 535 +18 +3.48 +8.52Savills 642 +21 +3.38 +7.72F&C Asset Mngmt 1013

8 +318 +3.21 +6.46

Balfour Beatty 28338 +83

8 +3.05 +7.35Pace 294 +83

8 +2.94 +17.84Cable & W Comm 421

8 +118 +2.85 +4.72

FTSE 100 Index

Risers▲ Price Rise p % rise Wk% chng

Kenmare Resources 23 -158 -6.69 -19.72

Homeserve 22958 -13 -5.36 -5.94

Polymet Int 525 -2312 -4.28 -11.62

Carpetright 620 -2712 -4.25 -4.91

Rank Gp 154 -5 -3.14 +0.13Schroders 2568 -74 -2.80 +3.01Kazakhmys 2605

8 -712 -2.80 +5.93

Bwin.Party Digital 11658 -31

8 -2.59 -3.48Provident Fin 1615 -41 -2.48 +0.81Spirent Comms 1241

4 -278 -2.28 -0.64

Fallers▼ Price Fall p % fall Wk% chng

6490

6515

6540

6565

6590WEDNESDAY

8 9 10 11 12 1 2 3 4 cls

Close - Up 22.48 at 6571.59