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With resources stocks continuing to soar despite fears of an imminent peak in the oil and mining sectors, broker Evolution Securities has this month chosen to highlight some of the more defensive investment propositions it views worthy of consideration.

Suggesting that 'sometimes it pays to use more discretion and a spot less valour', the list of companies featured is diverse. Evolution does admit, however, that 'it is striking that [many of these] companies come from apparently unexciting sectors'.

Sausages and bacon producer Cranswick, for instance, was a spectacular performer in the bear market of 2001 and 2002 and should – according to Evolution – soon reap the benefits of 'a recent programme of capital investment' not to mention 'a move into chilled foods'.

Fellow food producer Glisten is another singled out for praise, with the confectioner's success in selling non-branded products to retail chains seen as a particularly effective business model.

Trading on a prospective p/e of 9.9, meanwhile, house builder and construction group MJ Gleeson, says Evolution, is looking to de-risk its activities, shrink turnover and boost profits accordingly.

Yet not every company focused on resides in the traditionally more defensive sectors.

Publisher Wyndeham Press, for example, is considered to be 'steadily dragging its numbers back to respectability', having slashed costs. And AIM-listed Media Square 'has been transformed from a loss maker into a highly dynamic marketing services operation' seemingly on the verge of 'further earnings upgrades'.