City File: Tomkins expected to report interim profits

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EXPECT Tomkins, the industrial conglomerate fresh from its takeover of Ranks Hovis McDougall, to report interim profits tomorrow roughly in line with market expectations.

Pre-tax profits will be up 7.5 per cent to pounds 47m, while earnings per share will have grown by 8 per cent - not bad given an average fall of 13 per cent last year for the FT-SE 500. Economic recovery in the US, the strong dollar and the benefits of the RHM acquisition should ensure a buoyant second half.