"Trade" may no longer be quite the dirty word that it used to be for the British aristocracy. Most have opened their houses to the great unwashed to stay afloat financially, but few have gone as far as the Earl of Cadogan and his heir, Viscount Chelsea. As owners of 90 prime acres around London's Sloane Square, opening a theme or safari park is not an option, so they have turned to retailing and other enterprises with a vengeance. It is all laid out in the viscount's statement in the latest report of Cadogan Estates Ltd: "The principal activities of the group continue to be that of property investment, the manufacture and distribution of menswear, upholstered furniture and protective and workplace clothing and furniture retailing." In 1991, Cadogan Estates turned in a more than healthy £5.9 million profit on a £31.6 million turnover, producing an 18% margin, the sort that would have a City analyst salivating. Given the state of the British economy and the questions over Norman Lamont's future, what about Chelsea for chancellor.
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