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Carr's Milling H1 Pre-tax Profit Rises - Quick Facts

4/24/2012 2:48 AM ET

Carr's Milling Industries Plc. (CRM.L) on Tuesday said profit before tax in the first half of the year increased from last year, helped by a 12 percent growth in revenue. The company expects the results for the year to be ahead of expectations.

For the 26 weeks ended March 3, profit before taxation increased to 7.44 million pounds from 5.7 million pounds.

However, profit attributable to equityshareholders declined to 4.58 million pounds from 5.15 million pounds as the prior year benefited from discontinued operations. Earnings per share declined to 50.0 pence from 58.3 pence. Revenue climbed to 196.0 million from 175.5 million as Agriculture revenue increased 12 percent to 147.2 milion pounds.

The company said a first interim dividend of 7.25 pence per share, up from last year's 6.5 pence per share, will be paid on May 25 to shareholders on the register on May 4.

Chris Holmes, CEO, said, "Following the profit growth achieved in the first half the Board believes the results for the year will be ahead of the expectations that the company had at the beginning of the year, and is well positioned for sustained profitable growth."

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by RTT Staff Writer

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