Frenkel Topping, group CPL Resources and McBride

“The FTSE 100 opened on the front foot after upbeat US jobs data sparked Asian markets into action although any major northbound charge was constrained by struggling oil prices,” says AJ Bell Investment Director Russ Mould.

“Frenkel Topping was an early faller after half-year revenues were flat and pre-tax profits fell. The  group, which specialises in providing advice and fund management services for personal injury trusts and clinical negligence awards, has focused on developing the Frenkel Topping Investment Management business which is geared up to manage increasing assets in the coming years.  But the launch of FTIM, the migration of funds to it and the expansion of fee earners has hit first half profitability. The aim is to double 2015 operating profitability by 2017. Its shares were down by more than 4% in early trading.

“Recruitment group CPL Resources continues to build on the strong first half growth in revenues and profits and sees challenges and opportunities from the Brexit vote. Full-year results are expected to be in line with forecasts.

“McBride’s adjusted operating profit is set to be slightly ahead of previous forecasts with the full-year performance benefiting from better-than-anticipated progress on cost saving initiatives, including the final year impact of the UK business restructuring project. The group – a leading manufacturer and supplier of co-manufactured and private label products for the household and personal care markets – has also been buoyed by the simplification programme to reduce the number of small customers it serves.”

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