Exeter stays positive despite losses

Despite predictions from Exeter's chairman that the company will make an overall financial loss for 2002, the group maintains it has a number of positives to feed on in 2003. The group has been adversely affected by its large exposure to the split capital trust sector in the past 12 months, although Philip Thitchener, marketing director at Exeter, said its exposure to quality splits should start to see asset values improve going forward. Thitchener said there are signs this improvement has started, with the zeros sector up 15% since the middle of October 2002. This is coming off a 40...