City File: Lord Parkinson as chairman

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HAVING appointed Lord Parkinson as its chairman, the pig breeder and grain trader Usborne appears to be pulling itself out if its torpor. On Friday it showed it was again trading profitably, and its balance sheet has been strengthened thanks to a pounds 5m rights issue. It has also gained the backing of the top rated-food analysts at Henderson Crosthwaite. But the feeling is that the management nneeds to be strengthened for Usborne to be finally out of the woods.

However the shares, at 20 1/2 p, are worth buying for hope of further good news.