John Phelps’s portfolio

FOOD essences and fragrances group Treatt came up smelling of roses for us last week after directors told analysts to hoist their profit expectations following a surge in sales of their products.

The performance was more than enough to cancel out another dire performance by Clydesdale bank owner CYBG along with slippages in other share tips and helped our 2017 portfolio to hit another record valuation with an overall gain of 3.8 per cent over the week.

Despite the fresh fall, CYBG shares are in no immediate danger of eviction from the portfolio because we allow all New Year tips to drop as much as 20 per cent before they trigger a sell signal under our stoploss system.

The 2016 selections also pushed ahead over the week to record a further 1.7 per cent gain, boosted by a £79 profit from the sale of our entitlement to “cheap” shares issued by Greenock-based British Polythene Industries’ owner RPC to fund an American acquisition.

The disposal represented just 20 per cent of our total holding and we are happy enough to retain our initial £1,000 stake in the business in anticipation of further gains once current selling of the rights issue shares comes to an end.

However, the 2015 portfolio suffered from its notional holding in CYBG together with further profit-taking in Whitbread and saw a 1.0 per cent reversal over the week although Renewi – the old Shanks Group – managed a good rise following the name change after its merger with the Dutch Van Gansewinkel recycling business.

The 2014 list showed a fractional overall fall over the week after our notional holding in supermarket Wm Morrison slipped back into loss and Harry Potter publisher Bloomsbury shed some recent gains.

On the credit side, BAE perked up hopes of increased US defence spending under President Trump and Avon Rubber showed signs of stabilising after its recent sharp fall.