WHILE the precise contractual association between Britain's controversial Dutchess of York and merchandising company Sleepy Kids is not clear but the company's commercial promotion of her Budgie the Helicopter cartoon character is helping ease the burden of her £3 million personal indebtedness.

Sleepy Kids' chairman Martin Powell was reluctant to elaborate on Fergie's earnings admitted that the character generated "a large percentage of income" with Budgie sold to 70 countries with 135 different merchandising deals now in worldwide operation. Nothing sleepy about the annual results either which slow 86 per cent growth in annual pre tax profits to £973,067.

Floated six years ago at 20p the shares now stand at 45p. A maiden dividend of 0.1p a share is payable on earnings per share of 2.96p further solace for Fergie should her name appear on the register. Every little helps.