Yell's profits pave way to Footsie

YELLOW Pages owner Yell remains firmly on course to join the FTSE 100 index in next month's quarterly reshuffle after posting a 13% jump in earnings in its first results as a public company.

The former BT subsidiary, floated last month in the biggest stock market listing for two years, said revenues were up in Britain and the US, and stuck by its full-year goals.

Chief executive John Condron added that the group planned five new Yellow Pages directories in the capital on top of the existing nine.

Underlying earnings in the first quarter to 30 June climbed 13.3% to £80m as turnover rose 5.5% to £262m. After one-off costs linked to the float, the pre-tax loss was £55.8m, a 71% rise.

Yell shares have climbed 12% from their 285p starting price to 320p, giving it a market value of £2.2bn and making it a favourite for promotion to Footsie when changes are announced on 10 September.