In Brief

Rea Brothers, the financial services group which specialises in investment trusts, exceeded expectations with a rise in pre-tax profit last year of 35 per cent to pounds 1.8m. Earnings per share rose 20 per cent to 2.5p and the dividend remained the same. Roger Parsons, managing director, said funds under management had risen by 36 per cent to pounds 950m and customer deposits by 20 per cent to pounds 250m. Roughly half the group's business consists of the Finsbury Asset Management arm, which manages eight investment trusts, and which launched a $55m hedge fund last year. The group also has over 1,000 private clients. Mr Parsons said it planned new fund management launches and an increased private client portfolio.

Cattles, the door-to-door consumer credit company, enjoyed a bumper 1996 with pre tax profits up 20 per cent to pounds 33.9m. Edward Cran, chief executive, said earnings per share rose 21 per cent to 17p and the final dividend went up 20 per cent to 5.5p, making 8.3p for the year. Cattles is expanding its network of Welcome offices, which provide banking facilities to those normally ignored by the high street banks. Welcome opened 11 branches last year, making 61 in all, and aims to open another 15 this year. "While the banks are looking for better-off customers, we can see a huge market emerging for us," said Mr Cran. The Shopacheck network of consumer credit agents is also set to expand, having 135 offices already.

Severe problems at Hunting's aviation interiors business were blamed for a slump in profits last year to pounds 6.8m from pounds 31.1m, on sales of pounds 1.28bn (pounds 1.13bn). Write-offs totalled over pounds 40m in the first half, mainly to cover the cost and losses linked to a contract supplying interiors to the Dash-8 aircraft for De Havilland of Canada. Hunting, famous for its "runway-buster" bombs, plans to sell its non-core businesses, notably the aviation division, as soon as possible to focus on its oil activities and reduce gearing.