agree, all systems go2 Nov 2010 19:08
Outlook
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.
Lonrho is one of the first UK mid-caps to successfully place a convertible bond (US$ 70m) since the financial crisis. The demand for the bond from existing stakeholders and other institutional investors emphasises the growing confidence in the Lonrho business as well as in Africa as an emerging market."