City File: Hanson

HANSON, like that other great British institution, the Royal Family, is finding its tax bills a little worrying at the moment. The group's skill in keeping down its tax charge seems to be deserting it.

Hanson's first-quarter results, out on Tuesday, will show the tax charge rising by nearly a fifth. With the pre-tax profits as flat as a pancake at pounds 225m, this will bring down earnings by 15 per cent.

The good news is that Hanson is cautiously optimistic about its US businesses. And with the dividend likely to be 11.4p this year, the yield alone makes Hanson shares worth tucking away.