Somerfield has proven surprisingly resilient as shares took another battering this month says Helen Gregory It's tempting to offload our shares as prices dip yet again this month, but we'll hang in there and hope, like most investors, that the market rallies again soon. We've lost £75 this month ­ our basket's only worth £922, down from a high of £1106 in May ­ but it's still faring well compared with the FTSE 100. This fell in value by 10% during July, which means all our companies, except Unilever and Dairy Crest, have either performed as well as the FTSE, or outperformed. Surprisingly, Somerfield was the only share price to stay constant at 103p, while all the others dropped again. Evidently the City's confidence in the chain is improving. Safeway hasn't been doing too badly ­ like-for-likes at the chain were up 3.3% and total sales rose 3.4% for the 12 weeks to June 22 ­ but analysts are unsure whether the chain can sustain its growth. But Sainsbury isn't looking that healthy, as like-for-like sales only rose 2.7% in the three months to 22 June compared with last year. Sir Peter Davis promised stronger second half sales driven by new formats and a more diverse food offer. However analysts warn their forecasts for sales and profit growth could be threatened if sales don't pick up soon. On the manufacturing side, Unilever reached the mid-point of its Path to Growth restructuring programme and is confident about delivering it on time and in full. Its profits were up 32% (before exceptionals and goodwill). David Hallam at Williams de Broë said it was better than generally expected. "They've raised the rate of new product introductions, and I expect this to build up further." Cadbury Schweppes is faring well, with pre-tax profit up 10% to £386m. It's looking for confectionery acquisitions in the UK and has also promised lots of new product launches. Hallam said: "They're not doing too badly and although they haven't the scope of Unilever, there should be more to come." It's all quiet over the next month on the results front with only Somerfield's agm in early September. Let's hope all our companies continue to keep a step ahead. {{PORTFOLIO }}