City File: Frost Group

THIS week marks the first anniversary of one of the more successful stock market debuts of recent years. Last October, Frost Group, the petrol retailer, issued its shares at 235p. Since then they have risen to 448p. Profits are expected to more than double in 1992, to pounds 5.75m from pounds 2.5m. Next year, analysts are predicting a further increase, to pounds 7.6m. At present, Frost is expanding at the rate of one new petrol station a week. Mercury Asset Management has amassed an 18 per cent stake and the shares, which have been strong recently, look set to rise still further.