Golden Vale chief executive, Mr Jim Murphy must be wondering what he has to do to get the markets to take notice of smaller companies.

After producing figures that showed pre-tax profits rising 32 per cent before exceptional items, Mr Murphy could have been excused for expecting a little more from the market than the four cent rise on the day to €1.06 (83p). Later in the week, the price moved ahead again to end at 1.20 (94 1/2p).That price represents a humble multiple of nine and a half times forecast profits for 1999 and highlights the problem Irish stocks outside of the high-profile leaders are having in attracting the interest of key institutional buyers.