The Midlands' quoted sector has a reassuringly traditional look, with Severn Trent maintaining its place at the head of the turnover table, despite a raft of less-than-welcome news during the last year. New-ish chief executive Colin Matthews continues to turn back the clock via disposals of non-core assets; of which the latest appears likely to be its £50 million property arm. It's pleasing to see such other Midland stalwarts as IMI, Mitchells & Butlers, GKN and Wolverhampton & Dudley Breweries retaining their prominence. GKN's move to the top of the profit charts - despite a lengthy period of soaring costs and shrinking margins for manufacturers - is a tribute to the talent in its boardroom. The welcome renaissance of Halford was underlined earlier this month by its eagerness to hand back £30 million to its shareholders. Wagon's seeming recovery also catches the eye, demonstrating that, despite the uncertainty, not everything about the region's automotive sector is shrouded in gloom. Among the newcomers, it should be interesting to watch the progress of newcomer Melrose, which aims to seek out value acquisitions in the precision engineering and diecasting sectors. The powerful arrival of Sutton Coldfield-based undertaker Dignity inevitably evokes memories of Howard Hodgson, who transformed that sector in the late 80s and 90s. He may be all-but forgotten, but Dignity's first set of results suggest that it will be fast making its own name. The strength of the Midlands corporate sector though has long been its second-tier of private companies. The corporate vehicles of two of the region's richest and best-known entrepreneurs - John Caudwell and Sir Peter Rigby - remain in pole position. Linpac's progress since its £860 million buy-out by Montague Private Equity three years ago is emphasised by its high-placed arrival in the turnover table. Another long-established name on the Birmingham scene also appears to have gained a new lease of life - Ryland. Much is heard of the brutal competition among High Street motor dealers, so its performance is certainly worthy of note. Bristol Street Motors must have thought it had shaken off its rival, but with the two now head-to-head, their respective sales charts will come under close scrutiny in the coming months. The arrival of a decent-sized batch of newcomers across a wide range of sectors augurs well for the future. Two names stand out particularly, especially for observers of the region's engineering sector. Black Country-based Wyko Group and Birmingham's Dowding & Mills now hope to resurrect themselves as private ventures, after unsettling spells in the quoted sector. Data from the Aim-listed sector is also eagerly awaited of course, as investors and advisors alike try to spot those businesses capable of making the transition to a full listing. Last year's most notable newcomer, Fayrewood - which specialises in hardware, software and e-business services - has continued its impressive progress. Turnover figures may catch the eye, but its presence at the top of both the profit and sales tables is noteworthy. Coleshill-based Accident Exchange Group is another to have generated the kind of margins that finance directors see in their dreams. The rapid rise of electrical goods retailer Homebuy has just been demonstrated by its acquisition of swish new offices on Solihull's Blythe Valley Business Park. A market cap within sight of £100 million as the Company Guide went to press suggests that an upward move from Aim's breeding ground can't be far away. ..SUPL: | 
