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Tomkins boosted by profit news

Shares in engineering group Tomkins surged four per cent yesterday as the company swung to a full-year profit and hiked its final dividend payout. Citigroup raises its rating on the stock to “buy” from “hold”. Pre-tax profits were $38.4m compared with a loss of $8.1m, aided by one-off items and it said it was comfortable with analysts’ estimates for a profit of $355m in 2010.