Market Report: Taking Stock

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The Independent Online
Wiggins, the unborrowed, hyper active property developer, is planning an airport take-off. It intends to develop its Kent International Airport, now largely a freight centre, for charter and scheduled passenger flights and is involved in a tender for a New York airport.

The Kent airport, at Manston, was acquired for pounds 4.5m. It is next to Wiggins' extensive business park, set to welcome more tenants. So far it has just one. Profits this year should emerge at more than pounds 10m against pounds 4.9m; a dividend payment, the first for years, is likely. The shares shaded to 11.25p.

Watermark, the sales promotion group, held at 32p. Stockbroker Durlacher expects profits this year to climb 53 per cent, reaching pounds 1m. It regards the shares a buy, up to 40p.

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