logo
Share SHARE
FONT-SIZE Plus   Neg

Lonrho Posts Q4 Net Operating Profit Of £0.7 Mln - Quick Facts

Lonrho Plc (LONR.L) posted fourth-quarter net operating profit of 0.7 million pounds on continuing operations, compared to a loss of 3.0 million pounds in the same period in the prior year.

Net Operating Profit is defined as profit before tax, excluding the share of the results of associates and other movements in the carrying value of associates and investments.

The Group reported an impairment charge of 4.3 million pounds on the carrying value of its investment in Lonrho Mining Ltd., its ASX listed mining associate, due to the fall in its share price from AUD 0.043 to AUD 0.007. After this charge, loss before tax for the quarter was 2.8 million pounds.

Revenue in the final quarter quarter for continuing operations was 46.1 million pounds, up 67% from the same quarter in the prior year. On an adjusted like-for-like basis, revenue was up 30.2%.

Growth has been experienced across each of its operating divisions, the company noted.

David Lenigas, Lonrho's Executive Chairman, commented,

"...Financial performance in the final quarter of the year has been very encouraging and gives confidence moving into 2012. Having completed the Company's strategic investment programme, each operating division is well aligned to service the expansion in demand from the growth in emerging Africa and now has the necessary infrastructure and platforms in place to deliver strong growth and improved margins for 2012 and beyond."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Chuck E. Cheese pizza and arcade chain's parent company is planning for an IPO, reported Reuters. The public offering would be probably in the second half of 2017. According to the report, the chain has initiated discussions with banks, however has not yet hired any underwriters. The offering would help the restaurant chain for a valuation of around $1 billion. The Federal Aviation Administration said that SkyPan International Inc. will pay a civil penalty of $200,000 for violating federal regulations by flying remote-controlled aircraft in congested airspace over New York and Chicago. This is the largest civil penalty issued by the FAA against a drone operator. Citigroup Inc. on Wednesday reported a 7 percent increase in profit for the fourth quarter from last year as lower revenues were more than offset by decreases in cost of credit as well as operating expenses. Adjusted earnings for the quarter beat analysts' expectations, while revenues missed their estimates.
comments powered by Disqus
Follow RTT