Fitness First, a health club chain with 14 outlets, has forged a link with upmarket housebuilder Berkeley. The two have formed a joint venture, with funding of pounds 10m, to open up to 15 clubs. Berkeley has taken a modest stake in Fitness First. The shares, which started market life at around 90p last year, rose 11p to 198.5p; Berkeley was little changed at 668.5p.
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H Young, with interests spreading from cycle accessories to Head sportswear, edged ahead 5.5p to 154p, a few coppers from its peak. The company lifted profits 62 per cent to pounds 4.3m and should easily top pounds 4.7m this year. With pounds 4.5m in the bank, it is casting around for acquisitions but, because of the likely cost, will not mount hostile strikes.