City File: Warm to Frost

FROST Group shares rose 26p on Friday on news of the petrol station company's forthcoming share split.

But the shares, at 570p compared with the flotation price in October 1991 of 235p, should go further. Mercury Asset Management has built up a 21.9 per cent stake. Record results are expected in March and the group's new Blue Chip smart card is proving popular.

The scheme, taken up by 100 Fina stations and 50 independent petrol retailers, will add pounds 1m to profits this year.