Last week's market volatility has tended to favour more traditional companies rather than the recently fashionable tech stocks. The latter, although up from recent lows, now have to prove their value in a more sceptical market environment. Meanwhile the share prices of local companies Wm Morrison and Provident Financial continue to recover

Peter Black reported "another year of significant progress" with profits for the year to January up 14.2 per cent to £24.8m. All areas of the group contributed to the growth in sales, with the personal care division - vitamins and dietary supplements, herbal remedies, toiletries, cosmetics and skincare - complementing the ranges of footwear, handbags and small leather goods.

Sales to their major client Marks & Spencer held up well, and good growth was achieved with Superdrug and Next. Footwear sales grew following the acquisition of Fii.

On January 28 the group announced the acquisition of Hexel International Ltd for £20.1m, which will strengthen the personal care division and raise Peter Black's profile in Europe. The group sources and distributes its products on a global basis, and Hexel fits well into the group's strategy.

Chapelthorpe recently confirmed the sale of Flush Mills at Heckmondwike for £4.25m. This brings the total proceeds from the disposal programme initiated in 1997 to over £75m. There may be a further payment for the property if planning permission for retail development is granted in the next ten years.

Ultima Networks, the remaining publicly-quoted part of Microvitec, is now based in Chester but has probably retained some shareholders from its Bradford days.

The company is now returning to profitability under new ownership, following a difficult period of rationalisation. The company has most of its business in the booming technology sector and has recently appointed a new business development director to focus on new partnerships and joint ventures.

Converted for the new archive on 30 June 2000. Some images and formatting may have been lost in the conversion.