10 The Sunday Times December 22, 2019 BUSINESS

Liam Kelly LETTERS

global bee ambassador,” says Finbsury’s biggest win in Send your letters, including essential for Britain’s company for the benefit of its Veuve Clicquot makes too bold Rolet, 60, who, as well as eight years of spinning for SIGNALS full name and address, economic prosperity. members as a whole”. This beekeeping, runs Sir Michael the FTSE 100 drug maker AND NOISE . . . to: The Sunday Times, Mike Wheeler, executive membership includes staff, Trouble is fizzing at Veuve consternation among the Hintze’s CQS hedge fund. was defending it against a 1 London Bridge Street, chairman, Auto Styling suppliers, customers and Clicquot. The champagne award’s judges, which this £70bn hostile takeover bid London SE1 9GF. Or email Truckman, Dudley creditors. The act also house has run its annual year included Vanessa from Pfizer in 2014. [email protected] mentions maintaining a business woman award for Kingori, publisher of British Rudd hit by That might not have been Letters may be edited More regulation is not the reputation for high standards nearly five decades, with Vogue, Propercorn founder enough. Prufrock hears rival way to improve integrity of business conduct. previous winners including Cassandra Stavrou and Astra’s leave vote PR outfit Portland is in pole As a former accountant, now I’m surprised that the the late architect Zaha Hadid headhunter Moira Benigson. Perhaps Roland Rudd should position to nab the plum Business needs to get running my own group of broad range of this section and Liv Garfield, boss of “Some people are very, focus on the day job. The account. On Portland’s the public on its side private companies, I have has never been used to bring water giant Severn Trent. very upset by it and don’t founder of PR firm Finsbury advisory council is former While the City will have watched with dismay the errant directors to court. Some, however, are less want to be involved. It’s one spent the election campaign spin doctor and leading celebrated the outcome of decline in standards in both Jeff Carr, Warrington than impressed by its of the first awards for women embroiled in a boardroom People’s Vote player Alastair the general election, the the accountancy and legal rebranding as the “bold in business and that’s what bust-up at the People’s Vote Campbell, who clashed with owners of small and medium- professions (“Watchdog to Red tape has created woman award”, in what women want to be known campaign, which he chaired. Rudd. Campbell, 62, wrote sized businesses will also crack down on bosses in monster annual reports Veuve Clicquot calls “a for,” says an insider. “Carolyn While Rudd, 58, was last month that the PR welcome the decisive result accounts scandals”, last Luke Johnson’s column last modern evolution”. McCall [the 2008 winner]: playing politics, did clients svengali was “motivated by Prue Leith’s hols: The Bake (“Johnson landslide puts fizz week). This seems to date week on the 160,000 pages of The renaming last month would she want to be known start to feel unloved? Pharma status, titles, by being Off judge reveals how she into City”, last week). from when professional firms “incomprehensible” pension — apparently an idea from as the bold woman of the giant Astra Zeneca has put its thought to be important”. became addicted to horse A stable government will were permitted to incorporate rules hit the spot, but head office in Paris — caused year or the business woman PR contract out to tender. It must hurt, but Prufrock tartare in her youth in Paris give more confidence for with limited liability. preventing red tape from of the year? You wouldn’t hears Finsbury will keep but couldn’t stomach the businesses to invest and, at Unlimited financial liability growing further will require a have a bold men’s award.” doing some work for Astra. fiery cuisine of Bhutan last, provide more certainty for the consequences of one’s level of self-control and JUST SAYING . . . Watch out for some bold FUNNY BUSINESS about Brexit. In addition, any actions concentrates the awareness that has so far resignations by the judges. boost to the pound helps mind to a remarkable degree. proved beyond legislators. It’s quite a Persimmon TRAVEL, PAGE 18 companies, such as mine, Every accountant remembers When I became a director that import parts and the Enron disaster and the of Marston’s in 1996, our surprise to Rolet begging boss loses face components. subsequent demise of its annual report was limited to Persimmon chairman Roger TWITTER POLL With companies now able auditor, Arthur Andersen. 30 pages. The 2019 version, discover there bowl for bees Devlin has had a bruising to move forward, I implore There is, thus, no need for just published, runs to 140 isn’t actually Xavier Rolet must be time of late — and not just Yes No organisations such as the CBI the further regulation of pages. In 1996, buzzing. The former boss of when the housebuilder has to start to make the case for auditors. If accountancy “remuneration” merited just an auditing the London Stock Exchange been bashed for the quality business, rather than whining firms were required to revert half a page; this year, the profession in has beaten his €20,000 of its homes and culture. 63% 37% about Brexit. to partnerships, as was once remuneration report is a full (£17,000) crowdfunding goal Devlin regularly visits its Business owners have been the case, with each partner 18 pages. The number of its own right at his Provençal vineyard. sites, but got sick of being wrongly painted as villains, personally responsible for the executive directors covered Rolet, who earned £40m treated “like the Queen particularly by Labour’s firm’s debts and hence its by these disclosures has in nine years at the LSE, has Mother, assailed by the smell election campaign. This false professional performance, decreased, from five to two. owned Chêne Bleu since of fresh paint”. Now he pops narrative has resonated with there would be an immediate I leave it to others to decide 1998 with his second wife, in unannounced. On a trip to younger voters, who believe improvement in the quality of whether the increased words, Nicole. They plan to buy Horsham, West Sussex, the entrepreneurs are motivated audits. numbers, disclosures and more bees and beehives. site boss didn’t recognise Denise Coates built Bet365 by greed and businesses Ian Snowden, Clitheroe, pages have increased Sir Donald Brydon Apparently, the insects boost him. Devlin, 62, told her to into an online betting giant aren’t noble. Lancashire comprehension. Judging by recommending that biodiversity — and help make Google him. “She let me in and took £323m in salary Collectively, business has comments I receive regularly auditing be separated tastier vintages. Donors get eventually,” he sighs. and dividends last year. to change this perception and Section 172 of the Companies at our annual meetings, I from the accountancy tours and bottles of plonk. liam.kelly@ Is it right for an individual help the public to embrace Act 2006 obliges directors to suspect not. profession “What we really need is a sunday-times.co.uk to earn that much? rather than vilify a culture of act in a manner that Ralph Findlay, chief executive, enterprise, which will be promotes “the success of the Marston’s, Wolverhampton DATABANK INSIDE THE CITY LIAM KELLY THE WEEK IN THE MARKETS THE ECONOMY Consumer prices index current rate prev. month FTSE 100 DOLLAR shares closed at 732p, giving a turning the builder around, FTSE 100 USD > GBP 1.5% 1.5% Redrow market value of £2.6bn. he was succeeded as 7,600 CPI including housing current rate prev. month Redrow is the fourth- executive chairman by John 7,400 $1.30 1.5% 1.5% largest housebuilder by Tutte, previously chief V 0.03 cheer 12-month high: $1.35 Retail prices index current rate prev. month volume, putting up more executive. Since April, the 7,200 low: $1.20 than 6,400 homes in the year combined stake held by 2.2% 2.1% 7,000 EURO may raise to June and posting £406m in Morgan and his charitable 7,582.48 Average weekly earnings on prev. month on last year EUR > GBP pre-tax profits on £2.1bn of foundation has fallen to 20%. 229.04 H:7,727.5 6,800 sales — the sixth consecutive Tutte, 63, has had to 3.11% L:6,536.5 £542 0% U 3.2% the roof year of record results. weather storms about 6,600 €1.17 Unemployment current rate prev. month FTSE 250 V 0.03 Like other builders, its governance and pay, but has 2019 12-month high: €1.21 1.28m 3.8% 3.8% margins have been fattened mostly carried on where low: €1.07 Source: Re initiv Manufacturing output on the year on last month After Berkeley Group by the Help to Buy scheme. Morgan left off. The shares RISERS FALLERS YEN chairman Tony Pidgley However, they are also higher are up 46% this year. Lamprell: 34p U 55.3% on recovering NMC Health: £13 V 49.7% on Muddy YEN > USD V 1.2% U 0.2% cashed in £50m of shares in naturally because Morgan Jamie Fletcher, an analyst losses Renewi: 33.6p U 26.8% on Waters attack Finablr: 168.2p V 19.9% Retail sales on the year on last month the housebuilder last scrapped cheaper designs, at research firm StockViews, Dutch judgment Hyve: 102.2p U 14.8% on NMC Health fallout : on Las Vegas deals Ted Baker: 443p 510p V 11.8% on continuing investor ¥109.46 U 3.1% V 0.1% Monday, the share price amassed a strong land bank has a bullish £12.50 price 21,674.30 U 14.6% on boardroom shake-up talks Goodwin: £31.60 V 11.2% on U 0.10 dipped 2.5%. Yet when and focused on Redrow’s target. He expects margins of 166.51 H:21,935.3 Chemring: 236.5p U 12.6% on beating profits decline : 164.1p V 10.4% 12-month high: ¥112.60 on analyst note low: ¥104.44 Redrow founder Steve flagship Heritage range of 20% to rise by 1.5 percentage 0.77% L:17,054.7 expectations UK trade latest 3 mths prev. 3 mths latest 12 mths Morgan sold a slice of his family homes when he points due to “unappreciated OIL balance (£bn) -7.2 -4.8 -48.7 company for a similar sum returned in 2009, nine years embedded value in the land DOLLARS/BARREL DOW JONES FTSE EUROFIRST Gross domestic latest quarter prev. quarter annual change two days later, the stock kept after retiring for the first time. bank”. While others say that HANG SENG product moving up. While he was away, the is too optimistic — Fletcher’s 28,455.09 27,871.35 1,635.17 $66.14 U 0.4% V0.2% U1.1% 0.92 Although Morgan, 67, is no company fell into crisis. He assumptions need moderate 319.71 H:28,608.6 183.59 H:30,280.1 27.63 H:1,635.3 U Budget deficit latest month prev. month year-to-date 1.14% L:21,712.5 0.66% L:24,896.9 1.72% L:1,291.0 12-month high: $75.60 (PSNB) in £bn longer running the FTSE 250 forced his way back in with house-price and build-cost low: $49.93 -5.6 -9.0 -50.9 housebuilder — he retired in the support of hedge fund inflation to come good — NASDAQ SHANGHAI SENSEX GOLD March — some in the City had Toscafund. After 10 years other factors suggest that 8,924.96 3,004.94 41,681.54 DOLLARS/TROY OZ felt his near-30% stake acted Redrow is set fair. Redrow 190.08 H:8,931.9 37.26 H:3,288.5 671.83 H:41,810.0 as a drag on the shares by Boris Johnson’s “stonking” 2.18% L:6,190.2 1.26% L:2,440.9 1.64% L:35,010.8 $1,477.40 10-YEAR BOND YIELDS % reducing liquidity. majority has provided much- 5.17 700p U variation 12 months He found plenty of buyers. needed political certainty, S&P 500 CAC 40 ALL ORDS 12-month high: $1,548.98 low: $1,258.05 high low Next to its peers, Redrow and Tutte reckons a stamp 3,221.23 6,021.53 6,924.40 600 looks cheap. The shares are duty cut may be on the cards. 52.43 H:3,225.7 102.51 H:6,024.2 79.80 H:6,996.0 BITCOIN UK 0.79 W 0.00 1.33 0.34 changing hands at all-time Then there is the prospect of 1.65% L:2,346.6 1.73% L:4,556.0 1.17% L:5,478.4 DOLLARS 500 US 1.92 U 0.10 2.83 1.43 high prices, but the company buyers rushing into Help to NIKKEI DAX S&P TSX trades at a discount of about Buy before the scheme is 23,816.63 17,118.44 $7,167.25 JAPAN 0.02 U 0.03 0.05 -0.29 25% to the sector on both 400 restricted to first-time buyers 13,318.90 U 44.98 206.47 H:24,091.1 36.18 H:13,425.6 115.31 H:17,166.1 12-month high: $13,796.49 earnings and net asset value — 2017 2018 2019 in April 2021. Buy. low: $3,191.30 GERMANY -0.25 U 0.05 0.27 -0.74 0.86% L:18,948.6 0.27% L:10,279.2 0.68% L:13,776.9 Price at 4pm Saturday key metrics. On Friday, the Source: Re initiv @iamliamkelly

TOP 200 COMPANIES

Market cap ranking Price Change 52-week Mkt Cap Market cap ranking Price Change 52-week Mkt Cap Market cap ranking Price Change 52-week Mkt Cap Market cap ranking Price Change 52-week Mkt Cap Yield P/E Yield P/E Yield P/E Yield P/E V on week high low (£m) V on week high low (£m) V on week high low (£m) V on week high low (£m) 42 3i Group 1106.0 +34.5 1189.0 755.6 4.0 - 10761.5 129 2948.0 +258.0 3036.0 2022.0 0.9 98.0 3031.0 81 Johnson Matthey 3065.0 +184.0 3454.0 2665.0 2.8 15.3 5931.8 83 RSA Insurance 555.6 –14.6 597.0 496.7 3.8 22.0 5731.8 150 292.5 –2.5 306.5 229.8 3.7 - 2607.4 105 3848.0 –90.0 3970.0 2779.0 1.7 19.5 4300.3 189 406.6 +6.3 432.0 290.9 4.2 14.0 1861.0 200 801.0 +28.5 801.0 506.5 2.0 13.3 1685.6 70 Admiral 2261.0 +59.0 2300.0 1977.0 4.0 16.4 6640.2 8 Diageo 3190.0 +139.0 3625.5 2701.0 2.1 24.5 77632.4 89 Just Eat 795.0 +5.0 812.0 570.6 - 137.1 5430.1 59 Sage 747.0 +14.6 820.4 567.0 2.2 26.0 8135.1 169 849.4 +19.4 855.8 693.2 3.2 17.5 2175.6 164 Diploma 2018.0 +43.0 2026.0 1150.0 1.3 39.7 2285.2 153 Kaz Minerals 539.4 +4.6 738.4 380.3 1.8 6.9 2548.3 94 Sainsbury, J 232.7 +9.5 293.9 177.1 4.7 136.9 5149.0 140 Alliance 844.0 +26.0 845.5 669.0 1.6 - 2777.3 106 Direct Line Insurance 312.4 –1.2 366.5 270.5 6.7 10.0 4295.5 102 Kingfisher 216.9 –5.0 266.2 185.9 5.0 24.9 4576.9 51 Schroders 3360.0 nc 3419.0 2395.0 3.4 20.2 9040.1 20 Anglo American 2144.0 +10.0 2266.0 1666.6 3.7 8.5 29425.8 198 146.9 +1.9 150.0 104.9 - 6.9 1707.5 66 Land Securities 942.6 –58.9 1001.5 735.4 4.9 - 6989.0 52 Schroders N/V 2560.0 +10.0 2615.0 1962.0 4.4 15.4 9040.1 50 Antofagasta 918.0 –11.0 1022.5 738.0 3.7 18.7 9050.2 162 Dunelm 1148.0 +11.0 1173.0 506.5 2.3 23.0 2318.7 31 Legal & General 305.6 +0.3 317.7 216.7 5.4 9.7 18229.7 57 Scottish Mortgage 572.5 +49.5 578.6 440.2 0.6 - 8350.5 119 Ashmore 513.0 +21.0 542.5 356.0 3.2 20.5 3656.4 84 EasyJet 1428.5 –41.5 1501.0 854.8 4.1 29.4 5671.1 12 Lloyds Banking Group 62.3 –2.0 67.2 48.6 5.2 20.8 43658.6 44 Segro 875.0 +7.0 894.0 585.2 2.2 10.1 9595.7 41 Ashtead 2435.0 +122.0 2450.0 1586.5 1.4 14.2 11061.8 136 655.0 –16.4 729.8 480.0 2.3 20.0 2922.8 22 London Stock Exchange 7624.0 +452.0 7624.0 3908.0 0.8 56.1 26664.4 184 159.1 +1.5 165.0 94.5 - 35.0 1946.4 28 Associated British Foods 2591.0 –8.0 2631.0 2041.0 1.8 23.3 20512.3 141 Entertainment One 556.0 –1.0 589.0 336.4 - - 2773.7 157 Man 158.8 +1.9 175.1 130.1 5.8 11.1 2407.1 80 Severn Trent 2505.0 +85.0 2524.0 1770.0 3.7 20.0 5960.6 190 Assura 76.0 –2.0 79.3 52.5 3.6 22.4 1832.0 82 Evraz 396.9 +20.6 709.4 341.4 21.0 4.6 5762.6 109 Marks & Spencer 215.2 –8.4 290.0 163.9 6.3 46.8 4196.5 148 Signature Aviation 318.1 –6.7 327.5 53.2 4.3 32.4 2632.8 4 Astra Zeneca 7808.0 +591.0 7808.0 5325.0 2.9 60.0 102434.2 26 Experian 2557.0 +110.0 2631.0 1843.0 1.5 39.5 23223.3 134 406.0 +2.2 411.6 293.4 2.0 23.7 2993.1 92 Smith (DS) 391.3 +4.8 394.8 292.2 3.8 434.8 5370.2 88 Auto Trader 594.4 +20.6 606.0 436.2 1.1 26.7 5482.9 35 Ferguson 6916.0 +264.0 7004.0 4800.0 2.3 18.5 15618.2 95 646.0 –11.0 669.8 458.0 2.6 34.9 5022.6 34 Smith & Nephew 1837.0 +102.5 1990.0 1396.0 1.5 29.3 16074.4 63 Aveva 4668.0 +126.0 4668.0 2284.0 0.9 131.0 7539.0 65 Flutter Entertainment 9098.0 +216.0 9100.0 5525.0 2.2 38.8 7120.4 40 Melrose 232.6 –1.7 240.0 155.6 2.0 - 11300.3 69 Smiths 1707.0 +87.5 1707.0 1342.0 2.6 48.6 6763.0 33 Aviva 419.2 +3.4 438.8 352.3 7.2 7.2 16420.9 156 Frasers 474.6 +129.0 474.6 214.0 - 22.1 2475.8 121 International 1069.2 +16.6 2160.0 1004.0 8.2 6.4 3564.6 131 Smith WH 2628.0 +118.0 2628.0 1700.0 2.1 27.0 3023.8 128 606.8 –24.6 641.0 416.7 4.9 15.4 3068.0 107 Fresnillo 581.6 +9.2 1027.5 539.6 3.7 28.6 4285.8 185 Mitchells & Butlers 451.5 –14.5 470.5 238.0 - 17.6 1937.7 67 Smurfit Kappa 2936.0 +176.0 2936.0 2058.0 3.0 - 6984.3 30 BAE Systems 570.8 –3.8 588.2 443.9 3.9 13.8 18295.5 123 G4S 214.0 –1.9 234.3 168.3 4.5 85.6 3320.4 55 Mondi 1747.0 +50.5 1898.0 1510.5 3.9 10.1 8482.6 167 1126.0 +14.0 1176.0 570.0 1.2 32.7 2234.5 192 263.0 +8.6 295.0 194.2 1.8 16.3 1814.7 182 5990.0 +300.0 5995.0 2800.0 2.6 29.8 1957.2 194 Moneysupermarket 331.0 +21.3 417.7 269.8 3.3 18.9 1775.9 143 Sophos 562.2 +11.2 577.0 298.2 0.8 433.1 2767.9 122 2908.0 –6.0 2944.0 2188.0 2.1 71.1 3372.4 18 Barclays 178.4 –4.1 192.5 136.2 3.9 16.6 30892.4 177 Genus 3166.0 –80.0 3246.0 2146.0 0.9 266.0 2060.2 99 Morrison Supermarkets 200.7 +4.8 245.8 176.9 3.3 15.6 4825.8 64 Barratt Developments 739.2 –25.8 774.2 444.7 3.7 10.2 7526.8 7 Glaxo Smith Kline 1813.2 +88.2 1813.2 1436.0 4.4 19.9 90466.4 71 Spirax-Sarco 9000.0 +400.0 9400.0 5900.0 1.1 30.1 6630.0 159 468.4 +6.4 473.2 361.4 3.2 17.0 2397.0 137 Beazley 550.0 +7.0 628.0 492.6 2.2 23.4 2913.3 17 Glencore 236.6 +10.9 340.3 216.9 6.6 43.0 31532.0 36 SSE 1450.0 +34.5 1459.5 1008.0 6.7 8.6 14990.9 16 National Grid 962.0 +33.9 962.0 748.7 4.9 22.5 33484.6 101 3746.0 –85.0 3888.0 2456.0 3.9 8.6 4614.8 174 Units 879.5 –9.0 937.0 630.0 2.0 13.8 2098.6 138 SSP 650.0 –10.0 748.1 608.0 1.6 24.8 2907.8 46 Next 7018.0 –172.0 7340.0 3991.0 2.3 15.6 9350.0 78 Berkeley 4922.0 –220.0 5214.0 3355.0 0.8 10.5 6196.1 187 Grainger 305.0 +7.2 306.2 205.8 1.7 15.4 1867.5 27 Standard Chartered 723.2 +18.4 738.6 575.7 2.3 58.2 23115.0 145 NMC Health 1300.5 –1163.5 3000.0 1300.5 1.4 12.8 2715.5 6 BHP 1794.0 +55.8 2049.0 1563.0 4.4 13.7 90717.8 166 Greencoat UK 149.4 +0.2 155.0 124.2 5.7 - 2266.7 77 St James’s Place Capital 1166.5 +18.0 1199.5 913.6 4.1 41.7 6234.0 54 Ocado 1225.0 –14.5 1435.0 749.8 - - 8688.1 183 1168.0 –7.0 1192.0 858.5 2.8 12.1 1952.1 163 2272.0 +100.0 2476.0 1257.0 1.6 30.5 2298.3 62 Standard Life Aberdeen 331.3 +16.3 331.3 231.1 6.8 - 7759.1 186 OneSavings Bank 422.8 –22.2 452.0 313.6 3.5 8.0 1881.2 112 B&M European 405.0 –4.7 420.9 278.6 1.9 30.9 4052.4 173 836.8 –26.6 871.0 649.4 1.5 37.0 2124.4 120 Tate & Lyle 766.4 +16.6 800.4 658.4 3.8 15.6 3589.7 199 Page Group 519.0 –0.5 539.0 367.8 2.5 15.4 1705.4 193 937.0 –4.5 956.0 652.0 2.0 17.9 1793.9 96 GVC Holdings 852.6 –16.6 897.4 507.5 3.8 - 4963.3 76 Taylor Wimpey 192.6 –7.1 201.2 133.1 3.2 9.7 6317.0 97 Pearson 624.2 –35.8 1027.5 615.0 3.0 10.9 4881.8 179 Bovis Homes 1373.0 +13.0 1399.0 831.0 4.2 12.6 2036.6 60 Halma 2121.0 +47.0 2164.0 1313.0 0.7 44.6 8052.3 24 Tesco 251.9 +0.6 258.9 189.6 2.3 18.8 24669.8 104 Pennon 1025.5 +41.1 1042.0 684.2 4.0 18.5 4316.9 5 BP 485.0 +22.6 582.5 462.5 6.8 25.5 98252.3 165 297.6 +1.8 388.4 203.9 8.7 - 2280.5 113 1601.0 –24.0 1692.5 1012.0 2.9 54.3 4036.8 133 Pershing Square 1446.0 –404.0 1587.5 977.0 1.5 - 3008.4 10 British American Tobacco 3288.0 +249.0 3288.0 2375.0 6.1 12.2 75422.2 48 Hargreaves Lansdown 1962.5 +9.5 2433.0 1633.0 1.6 37.7 9308.5 155 Tritax Big Box Reit 145.3 +0.8 159.7 129.1 4.6 10.5 2480.2 58 Persimmon 2610.0 –206.0 2826.0 1836.0 9.0 9.4 8318.1 86 British Land 604.0 –18.2 638.4 468.3 5.2 - 5596.8 147 Hays 179.7 +2.3 183.0 135.7 2.2 16.4 2636.5 87 Tui 948.0 –26.4 1213.5 698.0 6.8 11.2 5583.0 91 Phoenix 745.7 +16.5 758.7 555.4 6.2 9.8 5380.3 161 893.5 –25.0 1068.0 786.0 3.2 20.0 2374.2 126 HICL Infrastructure 169.0 –0.4 174.0 152.6 5.2 - 3132.7 181 UDG Healthcare 793.0 –9.5 832.5 551.0 1.5 99.8 1983.4 29 BT 204.2 +2.6 249.0 158.9 7.5 9.4 20184.4 98 Hikma Pharmaceuticals 2011.0 +120.5 2200.0 1510.5 1.5 17.2 4873.0 90 Polymetal International 1148.0 –17.0 1272.0 772.6 3.2 19.7 5397.8 3 Unilever 4367.0 –178.0 5324.0 3941.0 3.2 13.9 114775.7 68 Bunzl 2051.0 –10.0 2551.0 1943.0 2.5 20.6 6907.6 110 1419.0 +49.0 1777.0 1213.0 2.3 41.3 4093.9 188 Primary Health 153.4 +2.0 153.6 109.2 3.6 - 1865.8 103 Unite Group 1224.0 +24.0 1251.0 797.5 2.4 13.6 4449.6 53 Burberry 2191.0 +71.0 2345.0 1623.5 1.9 25.3 8935.1 108 1268.0 +23.0 1291.0 849.0 1.7 38.8 4243.2 14 Prudential 1443.0 +55.0 1790.0 1279.5 3.4 14.2 37531.5 72 United Utilities 949.8 +44.0 952.6 718.4 4.2 17.9 6476.6 195 3140.0 –10.0 3195.0 2765.0 1.2 - 1724.5 115 Howden Joinery 661.6 –22.2 685.8 425.5 1.8 20.4 3960.7 178 QinetiQ 362.0 +8.0 362.0 267.0 1.7 18.1 2056.0 172 2464.0 +16.0 2522.0 1845.0 2.4 21.4 2130.5 170 Capital & Counties Properties 251.3 –2.5 270.5 184.9 0.6 - 2146.9 2 HSBC 600.2 +25.6 680.6 552.3 6.9 11.6 121916.0 130 Quilter 159.1 –0.2 164.9 114.5 2.1 20.9 3027.4 146 Virgin Money UK 186.2 –30.4 216.6 139.0 1.7 - 2671.7 144 Capita 164.1 –11.4 183.0 99.9 - 11.5 2737.5 154 IG Group 688.8 –7.2 705.0 474.8 6.8 16.1 2544.7 11 Reckitt Benckiser 6180.0 +143.0 6688.0 5593.0 2.8 19.3 43848.4 13 Vodafone 150.7 +4.4 165.2 123.3 5.3 - 40338.3 23 Carnival 3587.0 +275.0 4430.0 3056.0 4.6 9.9 25443.4 125 IMI 1180.0 –6.0 1200.5 899.0 3.4 18.9 3211.9 152 Redrow 732.0 +16.0 736.0 495.2 4.2 8.0 2578.0 114 Weir 1527.5 +6.0 1814.0 1244.5 3.0 64.4 3965.6 93 89.2 +1.4 140.6 64.6 13.5 - 5188.4 32 Imperial Brands 1849.0 +83.8 2713.5 1668.2 10.2 11.4 17500.5 15 Relx 1911.5 +107.0 2011.0 1581.5 2.2 24.8 37053.3 197 Wetherspoon JD 1643.0 +27.0 1734.0 1066.0 0.7 23.8 1719.9 132 220.3 +14.2 321.0 191.0 6.7 14.1 3022.4 142 Inchcape 693.5 +5.0 693.5 525.5 3.9 53.8 2771.9 168 Renewables Infrastructure 136.0 +4.6 137.8 109.3 5.8 - 2221.8 73 Whitbread 4831.0 –130.0 5152.0 3988.0 2.1 20.3 6459.1 158 Close Brothers 1589.0 –36.0 1663.0 1227.0 4.0 12.0 2403.9 43 Informa 845.2 +40.2 892.0 605.8 2.6 35.2 10580.2 139 Renishaw 3894.0 –90.0 4670.0 3232.0 1.5 30.7 2834.4 180 232.0 +9.0 232.0 189.0 2.2 - 2009.2 116 Cobham 163.7 +0.3 168.3 96.8 - - 3914.1 45 InterContinental Hotels 5146.0 +256.0 5738.0 4241.0 1.8 27.7 9367.4 56 Rentokil Initial 458.6 +32.1 467.8 319.0 1.0 - 8481.0 111 Holdings 3980.0 –33.0 4013.0 2722.0 - 12.2 4085.1 49 Coca Cola HBC 2528.0 +50.0 3074.0 2299.0 2.0 24.6 9183.5 100 Intermediate Capital 1605.0 +43.0 1606.0 918.5 2.8 22.7 4661.5 85 Rightmove 642.4 +1.4 649.0 420.9 1.0 34.2 5641.6 151 Wood 379.6 +6.4 598.6 319.6 7.2 56.2 2600.0 19 Compass 1897.5 +59.0 2138.0 1583.0 2.0 25.7 30133.6 47 Intertek 5770.0 +260.0 5962.0 4608.0 1.7 32.2 9312.4 9 Rio Tinto 4533.0 +212.5 4976.5 3643.0 5.3 7.3 76327.2 171 Workspace 1180.0 +3.0 1186.0 789.5 2.8 16.0 2132.7 175 1808.0 +211.0 1808.0 952.0 1.7 25.2 2063.7 39 International Airlines Group 628.6 –0.8 667.6 413.5 4.4 6.7 12473.5 124 RIT Capital Partners 2105.0 –50.0 2185.0 1890.0 - - 3270.1 38 WPP 1065.0 +42.0 1065.0 800.4 5.6 19.1 13412.6 117 Convatec 191.1 –0.1 202.8 118.6 2.4 30.4 3791.5 149 International Public Partnerships 162.6 –1.0 167.0 146.8 4.3 15.2 2619.1 37 Rolls-Royce 695.8 +9.4 988.4 686.4 1.7 - 13435.9 176 458.0 –10.8 474.4 277.6 2.4 14.2 2061.0 127 449.5 +7.5 518.6 395.3 5.4 9.4 3128.9 135 335.4 +2.6 341.2 237.7 1.8 32.2 2925.1 Price/earnings ratios are based on historic data, with yield and p/e values 196 Cranswick 3308.0 +48.0 3408.0 2472.0 1.7 23.3 1723.0 79 ITV 148.9 –3.7 156.5 103.6 5.4 13.4 5995.9 21 Royal Bank of Scotland 243.1 –8.7 270.4 177.6 2.3 14.7 29400.3 calculated from the most recent reported dividends and earnings per share, 25 CRH 3056.0 +71.0 3056.0 2008.0 2.1 17.6 24130.8 118 IWG 420.1 +8.5 421.9 199.8 1.5 35.3 3714.7 1 Royal Dutch Shell A 2232.0 +79.5 2612.0 2144.5 6.8 11.0 176418.0 using trailing 12-month figures. 52-week highs and lows are end of day. 75 Croda 4960.0 +84.0 5375.0 4564.0 1.8 27.1 6392.9 61 JD Sports 820.0 +37.2 821.0 333.4 0.2 30.9 7980.5 Royal Dutch Shell B 2233.5 +98.0 2622.0 2126.5 6.8 11.0 nc = no change Data provided by Morningstar.Any enquiries please contact: 74 DCC 6514.0 +44.0 7496.0 5750.0 2.1 26.9 6409.5 191 John Laing 370.6 +6.0 402.0 321.4 1.5 11.9 1822.5 160 Royal Mail 238.1 +1.6 304.3 188.4 10.5 7.4 2381.0 [email protected]