City File: Tomkins expected to report interim profits

EXPECT Tomkins, the industrial conglomerate fresh from its takeover of Ranks Hovis McDougall, to report interim profits tomorrow roughly in line with market expectations.

Pre-tax profits will be up 7.5 per cent to pounds 47m, while earnings per share will have grown by 8 per cent - not bad given an average fall of 13 per cent last year for the FT-SE 500. Economic recovery in the US, the strong dollar and the benefits of the RHM acquisition should ensure a buoyant second half.