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Lonrho back into profit

Tue, 02nd Nov 2010 13:44

A strong fourth quarter helped Africa-focused agribusiness and leisure group Lonrho turn a profit last year.Fourth quarter revenue to September rose by 13% to £33.6m with pre-tax profits of £2.9m. Full year revenues increased by 20% to £107.7m, with profits at £0.5m against losses of £4.5m previously."Lonrho has reached an important point in its development. Having moved into profitability for the financial year and following on from its successful bond issue, the company is in a position of strength entering the new financial year to deliver further growth. The opportunities now being implemented by Oceanfresh in the US and the imminent launch of Fly540 Angola and Ghana, the recent opening of new hotels, new clients arriving at Luba and the continued growth of the African economy mean the Group is well positioned to deliver substantial growth," chairman David Lenigas said.

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27 Jul 2009 16:59

London close: Footsie equals winning streak

Though it was a close run thing the Footsie ended the day in the blue, equalling its record run of 11 successive days of rises. The blue-chip index was supported by a strong performance from miners and the part-nationalised banks. Lonmin was wanted after Goldman Sachs upgraded the stock to "neutr

27 Jul 2009 14:34

London afternoon: Winning streak in danger

Footsie has dipped back into the red, with sentiment taking a knock from Wall Street's soft opening. Were the Footsie to finish higher today it would equal a record streak of 11 successive days of gains. Pearson remains the best performer on a much better than expected trading update. The publishin

27 Jul 2009 12:07

London midday: Pearson beats expectations

Strong mining stocks are supporting the Footsie's quest to achieve a record breaking 12th successive day of gains today. Lonmin leads the mining sector higher after Goldman Sachs upgraded the stock to "neutral" from "sell". Kazakhmys and Antofagasta are the next best performers. Pearson remains th

27 Jul 2009 09:25

Lonrho quarter continues growth

African conglomerate Lonhro said the third quarter has seen continued growth in its core businesses despite the depressed global markets. Third quarter turnover of continuing operations was £18.5m, an increase of 226% on a reported basis and 16% increase on a like for like basis. Year to date turn

9 Jun 2009 08:35

Small caps round-up: Cellcast, Haike, Real Good Food ...

Cellcast, a provider of technology that allows TV images to be viewed on mobile phones, moved into profit in 2008 after cutting costs and lifting revenues. The firm posted a pre-tax profit of £180,000 for the year, compared to a £2.15m loss the previous year. Revenue climbed to £16m from £12m. The

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Lonrho back into profit

London close: Footsie equals winning streak

London afternoon: Winning streak in danger

London midday: Pearson beats expectations

Lonrho quarter continues growth

Small caps round-up: Cellcast, Haike, Real Good Food ...

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