Next: Top of the middle

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The Independent Online
THE TOPPLING of Elonex from the pole position won by the north London computer firm in the first two annual rankings of the Middle Market 50 does not signal any slowdown by high technology companies.

Computers and related services still figure strongly, as will be demonstrated when the full details of the Middle Market Award appears in next week's Inside Business section. In addition to first-placed Morse Group, Pace Micro Technology, in fourth position, and Spectrum Computer Services, in sixth, are in the field, while Elonex itself has only slipped to 10th.

It is not just the computer sector that echoes the main list. Food, catering, leisure and retail have the same proportion of entries in the Middle Market as in the Independent 100.

There is a wider showing of engineering and industrial firms in the award for companies with first-year sales of £5m or more, but a less impressive showing by financial and professional services companies. However, the Middle Market second place company, Intercapital, has seen its sales rise by more than 60 per cent a year, largely through trading in financial derivatives.