City File: Union discount expected to declare a half-year profit

THERE is a severe danger that Union Discount will tomorrow declare a half-year profit, the first positive figure since a collapse in 1990 due to a disastrous leasing venture. But Union, once the City's leading discount house, is now much shrunken, and had to dispose of its crown jewel, the small company market marker Winterflood, early this year. The shares have trebled to 151p since they were first recommended in City File a year ago, and profit-taking is in order if the market gets excited at the results.