12 The Sunday Times May 12, 2019 BUSINESS

Liam Kelly LETTERS

make world-beating wines.” was spotted by veteran Send your letters, including will do. Only when we limit I am not too optimistic on Guy Hands wants his £4.5m back But Dixon, who reckons he’s financial analyst Steve SIGNALS full name and address, the number of immigrants even that aspect. Perhaps also become one of the Clapham, who was on his AND NOISE . . . to: The Sunday Times, arriving for low-paid jobs will another way in which Uber Terra Firma, the private instalments when they fell biggest producers of rosé in way to lead a training course. 1 London Bridge Street, wages at the bottom end of needs to learn to behave? equity firm set up by Guy due. Despite sending him Provence, doesn’t plan to Clapham, 60, tells London SE1 9GF. Or email the jobs market start to rise Christian Kuepers, Croydon Hands, lost its chief letters requesting the cash in give up the day job running Prufrock he was startled to [email protected] through the normal laws of executive last month amid February and March this IWG, as Regus is now known. see the boss of a blue-chip Letters may be edited supply and demand. (I Your article failed to explain mysterious “disagreements” year, he was set to “It’s the opposite of the grocer flying in economy. emphasise that I’m referring why Uber has grown between the curly-haired “repudiate” the debt, other business, which is high Even more surprising was Robots don’t come cheap, to low-paid jobs, not the exponentially: because it is tycoon and Andrew Géczy. according to a new high tempo — wine is relaxing.” the fact he didn’t see Coupe, but EU workers do doctors, computer scientists far cheaper to travel with Now we may know why court claim. 58, buy any breakfast. “I was In his Economic Outlook last and other professionals than a “traditional” rival. the former Citigroup banker After its disastrous £4bn starving,” Clapham laughs. week, “Robots aren’t always needed.) If I order my taxi service left so abruptly: Hands’s firm takeover of EMI and seeing Unexpected boss Then again, perhaps destroying jobs — or boosting Companies will then be via the Uber smartphone app, is pursuing Géczy through its investment in the business-class flights and productivity”, David Smith incentivised to begin my journey is a lot cheaper the courts for an alleged troubled care homes chain in economy bacon sandwiches are costs examined the impact of investing more widely in than the same one ordered by £4.5m debt. Four Seasons wiped out, no To Heathrow, where that have to be saved after artificial intelligence and productivity enhancing speaking into my Terra Firma claims that wonder Terra Firma is so Sainsbury’s boss Mike Coupe Coupe failed to get the robotics on UK productivity. systems and equipment. smartphone. That situation is when Géczy joined in keen to get back its money. was catching a flight to Sainsbury’s merger with He noted the record-high There would likely be further clearly an economic December 2016 it lent the Edinburgh on Thursday. Asda past the competition employment rate (76.1%) but benefits, with average real nonsense, as it should cost cash to him — but the The chief executive of the watchdog. The Sunday Times Rich List: also the “stubbornly high incomes finally starting to almost exactly the same to American failed to pay Essex boy Dixon FTSE 100 supermarket chain Liam Kelly meets Chris van proportion of people in low- rise above the levels they run a traditional taxi der Kuyl, the Dundee tech skilled jobs”. were in 2008. company as a Big Tech one. is White Vin Man The boat comes tycoon who put Minecraft Elsewhere in the article he Giles Nicklin, Chichester The only difference is the JUST SAYING . . . Essex boys will soon have a FUNNY BUSINESS on Xbox and PlayStation said that in Northern Ireland, processing of the customer’s very different reputation if in — too soon he “came across a firm that Uber’s not playing fair order — a tiny fraction of the I leave feeling Mark Dixon gets his way. The tide came in too quickly MAGAZINE, PAGE 110 had no alternative but to with its drivers, either overall cost. The Essex-born founder of at the launch of the Oyster automate because of the loss Last week’s excellent article The real reason why Uber pretty fulfilled, serviced office giant Regus — 565, a new yacht, at Tower of EU migrant workers”. “All roads lead to Uber”, now dominates traditional who has racked up a £926m Bridge on Thursday. TWITTER POLL It seems to me that, about the ongoing struggle taxi companies is therefore having achieved fortune, according to today’s Richard Hadida, 53, the without spelling it out, he has between Uber the ride- nothing to do with its Big what I set out to Sunday Times Rich List —is software entrepreneur who Yes No put his finger on one of the hailing app and the Tech, it is simply that it does trying to bring a bit of France rescued the yacht maker last main reasons for the UK’s authorities, did not consider not pay VAT on fares, and is do, which was to to the south of England. year, was telling guests on stubbornly low level of the commission that Uber not responsible for PAYE/ do something, Monaco-based Dixon, 59, the walkway high up on the 48% 52% productivity. This is our charges its drivers. This is in national insurance on its is planning to plant more bridge of his love for the attractiveness to well- the region of 25%, which drivers’ earnings, hence it leave it in good than 1.7m vines across Essex, brand before turning to his educated workers from seems a lot for what is an can offer far lower fares. This Kent and Sussex this year — right, aghast, as the vessel eastern Europe. Even the entirely automated service. gives Uber a massively unfair shape, with the equivalent of 15 average passed underneath while he minimum wage is more than How does this compare to the competitive advantage over momentum Bordeaux vineyards in a was still talking. twice as high as many east commission charged by competitors offering almost single year. “Oh my god, there she European workers can traditional minicab exactly the same service. “I’m bullish on English goes! The timing hasn’t been achieve at home. companies? Accordingly, the only wine,” the former hot dog quite right,” Hadida said. After Purplebricks founder If we want employers to Also, when you say that no question about Uber’s future seller says. And it’s all down “Oh, that’s a shame — we’ll Michael Bruce quit as the invest seriously in artificial VAT is paid on the fares as is when is the government to the weather. “It was a very all go home.” Timing is company reined in global intelligence and robotics, the most of the drivers do not going to stop one of the popular place to plant vines everything. ambitions, do you think economics must be attractive reach the threshold for the biggest cases of corporate tax Baroness (Rona) Fairhead in Norman times, and with liam.kelly@ online estate agents will to them. If it’s cheaper simply tax, one would at least hope avoidance in modern history? quitting after 19 months modern techniques we can sunday-times.co.uk replace traditional ones? to hire additional low-paid that Uber’s commission Peter Bryson, Addingham, workers, that is what they income is subject to VAT. West Yorkshire DATABANK INSIDE THE CITY SAM CHAMBERS THE WEEK IN THE MARKETS THE ECONOMY Consumer prices index current rate prev. month FTSE 100 FTSE 100 DOLLAR exclusivity over the most profit of just $8.9m (£6.8m) USD > GBP 1.9% 1.9% JD Sports desirable new products. on $1.8bn of sales last year. 8,000 CPI including housing current rate prev. month Cowgill, a gruff Cowgill, described by one $1.30 1.8% 1.8% Lancastrian, was quicker to analyst as being so good with 7,600 V 0.02 leaves capitalise on athleisure, numbers he’s “basically on 12-month high: $1.36 Retail prices index current rate prev. month low: $1.24 which has put trainers, the spectrum”, plans to fatten 7,200 2.4% 2.5% EURO leggings and hoodies at the profit margins by using his 7,203.29 Average weekly earnings on prev. month on last year Ashley EUR > GBP heart of teenage wardrobes. superior relationships with 177.35 H:7,903.5 6,800 For investors, however, it is the brands to fill its 529 stores 2.40 L:6,536.5 £529 V0.2% U3.5% standing JD’s overseas opportunities with trendier products, 6,400 €1.16 Unemployment current rate prev. month that are quickening the pulse. which will in turn result in FTSE 250 V 0.02 2018 2019 12-month high: €1.18 1.34m 3.9% 3.9% Sports Direct chief executive Foreign acquisitions mean it less stock going into the sales. low: €1.10 Source: Thomson Reuters Manufacturing output on the year on last month Mike Ashley has made plenty now makes 55% of its sales Some stores will be closed. YEN of poor investment decisions, outside the UK, trading from British retailers have failed RISERS FALLERS Sirius Minerals: 19.2p U 22% on Metro Bank: 533.5p V 16.4% on YEN > USD U1.2% U0.9% but his call on JD Sports takes more than 2,000 shops in 18 dismally at cracking America, mining hopes Petra Diamonds: 26.3p U continuing woes Allied Minds: 58p V Retail sales on the year on last month some beating. countries, and the most often because they fail to 16.9% on analyst upgrade Lindsell 13.2% on sentiment Centrica: 92.6p V Train: £18.70 U 10.5% on sentiment 12.1% on mooted dividend cut ¥109.95 U6.7% U1.1% “JD is crap,” he told a room notable deal was last year’s understand or sufficiently 19,366.80 Vectura: 79p U 9.2% on winning patent ITV: 119.4p V 11.4% on advertising fall V 1.14 of analysts in 2011. “I’ll finish £400m purchase of American respect the differences in 338.37 H:21,371.5 claim Findel: 186.5p U 8.6% on better- Carpetright: 25.3p V 11.2% on retail 12-month high: ¥114.54 struggles low: ¥104.96 off JJB [Sports] first, then I’ll retailer Finish shopper behaviour, most 1.72 L:17,054.7 than-expected profits UK trade latest 3 mths prev. 3 mths latest 12 mths move on to JD.” Line. Paradoxically, Ashley memorably ’s Fresh & OIL balance (£bn) -18.3 -9.4 -44.1 JD’s share price has since was one of its largest Easy grocery stores. DOLLARS/BARREL DOW JONES HANG SENG FTSE EUROFIRST Gross domestic latest quarter prev. quarter annual change sprinted from 48p to £6.20, shareholders. Perhaps mindful of that, 25,942.37 28,550.24 1,481.43 product while Ashley’s shareholders In some ways it was a Cowgill has so far converted $70.85 U0.5% U0.2% U1.8% 562.58 H:26,951.8 1,531.31 H:31,592.6 53.66 H:1,560.3 1.30 have had to put up with a less curious deal. Finish Line’s just four Finish Line stores V Budget deficit latest month prev. month year-to-date 2.12% L:21,712.5 5.09% L:24,540.6 3.50% L:1,291.0 12-month high: $86.74 (PSNB) in £bn meteoric rise of 24%. Last profits had been sliding for into JD outlets. Plus, the low: $49.93 -1.7 -0.4 -24.7 year JD churned out pre-tax six years, and the business globalised sportswear market NASDAQ SHANGHAI SENSEX GOLD profits of £340m — up 15%. churned out an operating should make selling trainers 7,916.94 2,939.21 37,462.99 DOLLARS/TROY OZ Peter Cowgill, executive in America far less of a leap 247.06 H:8,176.1 139.13 H:3,288.5 1,500.27 H:39,487.5 chairman, achieved this JD Sports than selling groceries, and 3.03% L:6,190.2 4.52% L:2,440.9 3.85% L:33,291.6 $1,287.27 10-YEAR BOND YIELDS % remarkable feat by the deal positions JD as one of U 6.23 convincing Nike, and 600p the key global retailers for the S&P 500 CAC 40 ALL ORDS 12-month high: $1,345.45 variation 12 months the other powerhouse sports powerful brands. 2,881.40 5,327.44 6,393.10 low: $1,179.16 high low 64.24 H:2,954.1 221.40 H:5,657.4 34.10 H:6,481.3 brands that his shops were a 500 JD’s shares have had a BITCOIN UK 1.13 V 0.09 1.75 0.97 more salubrious showroom remarkable run this year — up 2.18% L:2,346.6 3.99% L:4,556.0 0.53% L:5,478.4 DOLLARS for their top-of-the-range gear 400 by 75% — and now trade at a NIKKEI DAX S&P TSX US 2.47 V 0.06 3.26 2.34 than Sports Direct, whose punchy 19 times its estimated 21,344.92 12,059.83 16,297.55 $6,886.56 shabby stores were more akin 300 earnings for the next year. U 1,233.72 JAPAN -0.05 V 0.01 0.17 -0.13 913.81 H:24,448.1 352.92 H:13,204.3 196.88 H:16,672.7 12-month high: $11,767.58 to a jumble sale. The result N D J F M A But this has the makings of a 4.11% L:18,948.6 2.84% L:10,279.2 1.19% L:13,776.9 low: $3,167.82 Price at 5pm Saturday GERMANY -0.05 V 0.07 0.66 -0.09 was that JD was given Source: Thomson Reuters marathon, not a sprint. Buy.

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) 40 Group 1042.5 –23.5 1088.5 756.2 3.5 - 10191.6 110 3288.0 +112.0 3291.0 2761.0 1.9 16.5 3671.0 98 Just Eat 665.0 –34.4 883.4 533.8 - 55.0 4533.5 153 243.8 –5.5 631.0 234.1 9.8 26.5 2438.0 159 3i Infrastructure 280.0 +1.5 288.5 220.9 3.1 - 2277.3 6 3245.5 +38.0 3245.5 2523.5 2.0 27.1 77263.9 142 Kaz Minerals 578.2 –45.2 1076.0 436.7 0.8 6.5 2725.0 123 RPC 790.2 +0.2 834.8 632.2 3.5 12.8 3215.5 74 Admiral 2057.0 –122.0 2281.0 1870.0 3.9 15.0 5984.8 186 Diploma 1530.0 –30.0 1634.0 1150.0 1.5 32.2 1732.6 88 Kingfisher 243.0 –17.2 318.1 205.4 4.4 13.2 5127.6 78 RSA Insurance 554.2 +4.4 681.8 496.6 3.7 17.5 5715.5 165 Aggreko 815.8 –23.6 882.0 641.8 3.3 16.6 2089.5 101 Direct Line Insurance 313.1 –7.4 376.2 304.9 6.6 9.5 4305.1 61 Land Securities 903.2 –23.0 977.7 791.8 5.1 - 6696.9 55 715.0 +2.6 731.0 525.6 2.2 26.4 7768.1 149 Alliance Trust 761.0 –15.0 789.0 672.0 1.8 - 2514.4 188 Dunelm 847.0 –2.5 912.5 482.8 3.1 20.4 1710.4 33 Legal & General 271.0 –5.6 291.2 223.7 5.8 9.2 16154.2 94 Sainsbury, J 211.7 –8.6 341.5 209.0 4.8 18.1 4672.9 22 Anglo American 1892.8 –88.0 2226.0 1464.6 4.3 8.8 26595.3 106 easyJet 1034.0 –83.0 1796.0 1009.0 4.0 11.5 4107.1 12 61.0 –1.6 67.1 50.0 8.6 11.1 43221.9 49 3076.0 –86.0 3488.0 2334.0 3.7 17.1 8305.1 52 Antofagasta 835.6 –43.2 1149.0 727.2 0.6 20.7 8237.9 138 Electrocomponents 617.4 –24.2 761.6 480.0 2.2 16.6 2740.5 30 5072.0 –44.0 5186.0 3867.0 1.1 37.3 17730.2 50 Schroders N/V 2395.0 –45.0 2720.0 1962.0 4.8 13.3 8305.1 121 Ashmore 454.8 –2.2 488.0 337.0 3.7 22.6 3241.6 160 Entertainment One 453.4 –27.6 483.4 278.8 0.3 90.7 2248.9 155 Man 151.8 –5.9 196.3 126.8 6.3 11.4 2340.1 57 Scottish Mortgage 514.0 –16.5 568.3 441.4 0.6 - 7600.5 43 Ashtead 2028.0 –83.0 2438.0 1586.5 1.7 13.2 9502.2 48 586.4 –21.0 669.0 442.1 14.5 4.5 8463.8 100 Marks & Spencer 271.2 –7.8 314.5 242.4 6.9 150.7 4407.1 58 686.0 +5.0 686.8 585.2 2.5 6.6 7487.4 27 2510.0 –41.0 2836.0 2041.0 1.8 21.7 19871.0 28 2183.0 –33.0 2247.0 1709.0 1.6 32.8 19865.8 147 Mediclinic International 344.0 –0.8 704.6 301.3 2.3 - 2535.8 96 1961.5 –42.5 2091.0 1770.0 4.4 17.9 4656.7 171 Aston Martin Lagonda 859.0 –36.5 1810.0 859.0 - - 1958.5 109 F&C Investment Trust 683.0 –11.0 741.0 616.0 1.6 - 3713.3 105 Meggitt 534.8 –14.2 572.0 458.0 3.0 23.5 4155.1 97 Smith (DS) 339.6 –22.4 513.4 292.2 4.2 14.5 4656.6 9 Astra Zeneca 5692.0 –49.0 6525.0 5182.0 3.8 39.0 74665.3 36 Ferguson 5514.0 +62.0 6556.0 4749.0 2.6 18.2 12791.8 46 Melrose 182.3 –18.2 247.0 146.3 2.4 - 8856.6 35 Smith & Nephew 1612.0 +43.0 1612.0 1258.0 1.8 27.1 14111.7 83 Auto Trader 572.2 –3.8 580.4 351.2 1.0 30.5 5317.0 190 Finsbury Growth & Income Trust 877.0 +3.0 881.0 740.0 1.8 - 1677.8 193 Mercantile Investment Trust 209.0 –0.8 226.0 168.0 3.0 - 1656.3 75 Smiths 1498.5 –40.0 1801.0 1279.5 3.0 20.5 5933.3 86 3236.0 –62.0 3410.0 2284.0 0.8 89.6 5219.4 82 Fresnillo 724.8 –23.4 1340.0 724.8 4.4 19.4 5341.0 108 Merlin Entertainments 369.3 +0.7 410.5 307.1 2.0 16.4 3781.9 161 Smith WH 2014.0 –22.0 2186.0 1697.0 2.7 24.0 2178.3 32 415.1 –11.1 552.0 364.6 6.8 11.0 16254.9 119 G4S 210.3 –5.7 282.0 175.9 4.6 40.4 3263.0 68 Micro Focus International 1785.0 +0.8 2067.0 1184.0 4.1 12.8 6127.5 84 2236.0 –92.0 3292.0 1934.0 3.6 - 5310.8 145 Babcock International 519.8 –2.0 862.4 472.8 5.7 10.9 2628.1 198 Genus 2418.0 –62.0 2992.0 2098.0 1.1 - 1572.8 71 1657.5 –50.5 2236.0 1584.0 3.5 10.9 6087.0 182 Softcat 900.5 –31.0 932.5 565.0 1.3 28.5 1785.2 34 BAE Systems 469.3 –12.2 676.4 445.5 4.7 15.0 15028.1 7 Glaxo Smith Kline 1502.0 –50.2 1621.6 1418.0 5.3 19.1 74916.5 172 Moneysupermarket 358.0 +4.0 372.1 264.0 3.0 22.2 1920.4 196 Sophos 338.0 –12.6 639.0 298.2 1.1 - 1629.4 191 Balfour Beatty 242.8 –8.8 311.1 230.6 1.6 12.4 1675.3 14 280.9 –17.5 400.4 269.0 5.6 14.9 38727.9 175 Monks Investment Trust 855.0 –23.0 891.0 710.0 0.2 - 1869.0 130 Spectris 2624.0 –145.0 2908.0 1966.5 2.2 16.7 3039.1 73 Spirax-Sarco 8125.0 –70.0 8335.0 5900.0 1.1 26.9 5985.4 20 157.5 –6.2 214.4 146.1 4.1 8.0 27157.9 162 Grafton Group Units 908.0 +18.0 908.0 630.0 1.8 14.4 2166.3 87 Morrison Supermarkets 215.4 –0.2 269.4 211.7 2.8 21.3 5153.0 70 601.8 +8.0 625.8 434.0 4.4 8.4 6103.9 199 Grainger 254.4 +1.6 291.6 205.8 1.8 13.4 1557.2 197 Sports Direct International 294.4 –2.4 436.1 233.2 - 35.5 1578.3 164 National Express 410.8 +0.8 433.2 361.4 3.4 15.5 2102.2 137 BBA Aviation 271.8 –1.0 350.0 207.0 3.9 30.4 2811.9 177 Greene King 599.4 –9.4 704.4 472.8 5.5 11.9 1858.2 38 SSE 1112.5 –32.5 1440.5 1032.5 8.5 40.0 11511.6 17 National Grid 835.5 +6.4 889.2 748.7 5.5 8.5 28505.7 136 Beazley 533.5 –30.0 619.5 492.6 2.3 53.1 2822.8 180 Greggs 1793.0 –4.0 1861.0 942.0 1.8 27.8 1813.7 128 SSP 684.0 –15.0 779.8 644.4 1.5 26.6 3042.3 56 Next 5626.0 –74.0 6202.0 3991.0 2.8 13.0 7687.1 111 2965.0 –93.0 3433.0 2419.0 4.8 6.8 3651.5 167 756.0 +0.6 773.6 652.3 1.6 33.3 2051.5 24 679.8 –30.6 770.3 519.8 2.0 46.8 22480.2 79 NMC Health 2638.0 –161.0 4120.0 2192.0 0.5 33.7 5504.8 93 Berkeley 3710.0 –20.0 4321.0 3226.0 2.4 7.8 4786.5 116 GVC Holdings 597.2 –36.0 1170.0 507.5 5.3 - 3475.1 76 St James’s Place Capital 1101.0 –25.0 1240.5 914.0 4.2 34.0 5842.4 45 Ocado 1339.0 –41.5 1435.0 545.2 - - 9367.1 5 BHP 1743.0 –35.4 1944.2 1490.6 5.4 13.4 88143.5 63 Halma 1756.0 –47.0 1803.0 1237.0 0.8 39.8 6666.6 65 266.0 –12.8 423.9 224.9 9.3 - 6512.4 187 Page Group 522.5 –11.0 623.5 432.2 2.4 16.1 1716.5 183 1056.0 +18.0 1056.0 852.5 2.9 14.4 1760.3 157 299.8 –10.5 561.2 291.7 8.6 - 2297.4 113 Tate & Lyle 774.4 +6.8 774.4 597.0 3.7 16.5 3621.0 67 Pearson 802.4 –8.2 1027.5 777.6 2.2 10.6 6270.1 107 B&M European 386.3 –4.3 426.3 278.6 1.9 18.3 3865.2 39 2298.0 +6.0 2321.0 1633.0 1.4 45.3 10899.8 77 177.2 –4.0 205.0 129.3 2.8 8.9 5811.3 129 Pennon 723.4 –16.8 812.4 684.2 5.3 14.0 3042.0 200 Bodycote 813.0 –30.0 1055.0 676.0 2.2 15.0 1556.5 163 Hays 147.2 –4.1 212.0 135.7 2.6 12.5 2144.9 174 Templeton Emerging Markets 750.0 –31.0 792.0 649.0 2.0 - 1877.5 134 1340.0 –7.7 1381.4 967.0 - - 2894.0 4 BP 524.2 –23.9 598.3 485.9 6.0 14.0 106683.6 133 HICL Infrastructure 165.4 –0.6 170.1 140.0 5.0 - 2929.6 23 Tesco 242.1 –5.3 266.2 189.6 1.2 21.4 23710.1 62 Persimmon 2095.0 –93.0 2880.0 1859.5 11.2 7.5 6672.9 10 2839.0 –58.5 4222.5 2375.0 6.9 10.8 65120.3 103 1750.5 –9.0 2025.0 1314.5 1.5 19.1 4235.4 115 Travis Perkins 1380.5 –22.0 1475.5 970.0 3.3 - 3480.9 90 Holdings 677.8 –25.6 724.8 518.5 6.7 10.2 4888.3 81 570.0 –25.2 697.0 523.0 5.3 27.9 5411.2 99 Hiscox 1565.0 –63.0 1711.0 1418.0 2.0 45.0 4504.5 148 Tritax Big Box Reit 147.6 –0.9 155.7 129.0 4.4 8.5 2519.5 185 Polar Capital Technology Trust 1302.0 –50.0 1386.0 1066.0 - - 1742.4 154 Britvic 908.0 +5.0 956.0 745.0 3.0 20.6 2409.1 114 Homeserve 1071.0 –15.0 1166.0 757.0 1.8 36.5 3561.1 91 Tui 827.8 –35.4 1810.5 713.2 7.1 8.2 4866.6 25 BT 208.8 –17.7 264.6 202.9 7.4 9.2 20718.9 125 Howden Joinery 519.2 –9.2 539.0 416.4 2.2 16.6 3137.3 112 776.4 –19.0 894.0 597.2 4.7 12.5 3650.3 132 Tullow Oil 213.1 –3.0 276.0 165.1 - 46.0 2988.7 122 BTG 834.5 –1.5 853.0 475.0 - 141.9 3231.6 2 HSBC 652.0 –28.6 745.7 600.8 6.0 12.3 131940.0 95 Paddy Power Betfair 5978.0 –432.0 9110.0 5525.0 3.4 24.9 4670.5 194 UDG Healthcare 664.0 –17.5 940.0 551.0 1.6 569.5 1652.2 59 2125.0 –121.0 2551.0 2125.0 2.2 21.7 7151.0 179 IG Group 497.5 –8.9 954.5 497.5 8.7 8.8 1835.0 168 Primary Health Properties 132.8 +1.0 132.8 106.4 4.1 13.6 2050.9 3 4609.5 +6.5 4657.5 3931.0 2.9 14.8 121149.2 53 1921.5 –78.5 2325.0 1623.5 2.2 24.5 7906.2 144 IMI 982.6 –61.4 1242.0 870.0 4.1 15.8 2673.7 13 Prudential 1612.0 –126.5 1954.5 1340.0 3.0 13.8 41907.0 150 Unite Group 953.0 +5.5 953.0 797.5 2.6 10.5 2511.7 192 Caledonia Investments 3030.0 –20.0 3060.0 2650.0 1.9 - 1664.1 26 2164.5 –186.0 2987.5 2164.5 8.7 13.3 20708.6 189 QinetiQ 300.2 –6.8 311.4 235.0 2.1 13.8 1705.0 80 797.2 –18.8 873.6 682.4 5.0 14.7 5436.0 166 Capital & Counties Properties 241.2 +0.3 308.9 226.3 0.6 - 2052.2 152 Inchcape 596.5 –16.5 799.0 486.6 4.7 51.9 2476.7 140 Quilter 143.7 –4.3 156.6 110.6 - 15.3 2733.9 173 Victrex 2220.0 –230.0 3408.0 2156.0 2.5 17.3 1918.2 170 118.7 –5.3 169.1 102.2 - 6.7 1980.6 44 750.0 –27.8 859.0 605.8 2.8 38.1 9388.5 11 Benckiser 6145.0 +81.0 7155.0 5593.0 2.7 20.1 43499.0 15 139.0 –1.1 210.1 131.4 9.7 - 37306.9 18 Carnival 3949.0 –64.0 5000.0 3659.0 3.8 12.0 28292.1 151 Inmarsat 536.0 +1.0 632.2 356.6 2.8 - 2484.8 169 Redrow 578.0 –13.0 639.0 23.0 5.1 6.3 2035.7 104 Weir 1603.0 –46.5 2325.0 1240.0 2.8 74.2 4161.4 85 Centrica 92.6 –12.8 163.6 92.6 13.0 28.9 5291.6 47 Intercontinental Hotels 4850.0 –94.0 5227.4 4155.8 1.8 32.1 8828.6 16 Relx 1742.0 +16.0 1769.5 1491.5 2.3 24.4 34034.9 54 4520.0 –34.0 5114.0 3883.0 2.2 19.0 7881.3 102 Cineworld 313.3 –6.0 323.6 245.0 2.2 17.8 4295.9 118 Intermediate Capital 1169.0 +5.0 1203.0 899.0 2.6 11.8 3394.2 181 Renewables Infrastructure 124.8 +0.8 124.8 104.6 5.3 - 1805.1 178 Witan Investment Trust 1048.0 –22.0 1138.0 948.0 2.4 - 1852.5 156 Close Brothers 1526.0 –33.0 1660.0 1406.0 4.1 11.5 2309.5 51 5124.0 –154.0 6014.0 4387.0 1.6 29.3 8269.8 126 Renishaw 4280.0 –156.0 5685.0 3670.0 1.4 24.3 3114.9 117 Wizz Air 3351.0 –59.0 3797.0 2329.0 - 17.0 3438.7 139 Cobham 114.4 –1.2 131.7 96.8 - 36.9 2735.3 42 International Airlines Group 498.6 –26.4 726.6 489.3 5.2 4.0 9893.7 60 382.5 –5.1 390.0 284.8 1.1 - 7073.7 127 Wood 447.3 –14.4 796.4 438.0 2.0 - 3048.5 41 Coca Cola HBC 2732.0 –31.0 2801.0 2244.0 1.8 25.2 9915.1 158 International Public Partnerships 161.8 +0.2 163.0 141.4 4.3 16.6 2278.6 89 557.0 +11.0 557.0 420.9 1.1 31.5 4957.8 184 974.5 +3.5 1165.0 789.5 2.8 11.2 1757.9 21 Compass 1707.0 –29.5 1825.0 1483.0 2.0 24.0 27077.4 120 Investec 477.4 –14.3 594.8 423.4 5.0 9.2 3256.4 8 4412.0 +4.5 4771.5 3486.0 5.4 7.1 74841.2 37 WPP 962.6 –15.4 1360.5 800.4 6.2 11.4 12147.0 135 Convatec 146.6 +3.1 239.0 118.6 3.2 17.0 2881.4 92 ITV 119.3 –15.4 180.4 118.8 6.6 10.3 4804.3 124 RIT Capital Partners 2045.0 –40.0 2130.0 1892.0 - - 3176.9 29 CRH 2455.0 –148.0 2857.0 1971.5 2.5 16.0 19821.8 131 IWG 337.2 –6.8 345.2 199.8 1.8 29.1 3019.2 31 Rolls-Royce 918.6 –15.6 1094.0 759.2 1.3 - 17495.0 Price/earnings ratios are based on historic data, with yield and p/e values 64 Croda 5070.0 –10.0 5447.7 4576.0 1.7 27.4 6522.9 72 JD Sports 620.0 –11.6 635.6 318.5 0.3 24.0 6034.0 146 Rotork 297.4 –10.0 361.4 235.7 1.9 28.3 2593.3 calculated from the most recent reported dividends and earnings per share, 143 CYBG 190.0 –15.3 364.2 173.9 0.5 - 2723.6 176 John Laing 378.0 –4.8 402.0 264.2 1.5 6.1 1863.5 19 Royal Bank Of Scotland 232.9 –4.8 296.0 203.0 2.4 18.6 28160.2 using trailing 12-month figures. 52-week highs and lows are end of day. 66 DCC 6590.0 –244.0 7565.0 5555.0 1.9 24.5 6475.2 69 3159.0 –183.0 3823.0 2620.0 2.5 18.2 6113.7 1 A 2426.5 –28.0 2748.5 2213.0 6.0 11.2 197121.0 nc = no change Data provided by Morningstar. Any enquiries please contact: 141 Dechra Pharmaceuticals 2662.0 –68.0 3168.0 2014.0 1.0 113.6 2732.0 195 Jupiter Fund Management 357.8 –7.4 488.0 287.6 5.1 11.5 1637.7 Royal Dutch Shell B 2433.0 –39.5 2841.0 2227.0 6.0 11.2 [email protected]