LONDON (AFX) - Rowe Evans Investments Plc posted a 110 pct rise in full year
profit before tax to 6.698 mln stg due primarily to much improved palm oil
prices during the year, offset by lower-than-expected crops and the
strengthening of the Indonesian Rupiah.
The palm oil price climbed steadily throughout the year from around 300 usd
per tonne at the beginning to some 460 usd at the year end. The price has
weakened a little since the year end but still remains around 420 usd, it said.
Sterling has weakened slightly from the year-end level against the
Indonesian Rupiah of 1 stg equivalent to 14,338 Rupiah to the current level of
around 13,900 Rupiah.
Turnover in the year ended December 31 2002 was 6.399 mln stg, up from 3.775
mln and EPS was 8.84 pence, up from 4.43 pence. The company recommends a
dividend of 4.75p per share versus last year's 4.25p.
Bertam Holdings Plc, in which Rowe Evans holds a 46.46 pct stake, also
posted its results for the year which showed a profit before tax of 3.182 mln,
up from 2.480 mln stg last time on turnover 3.530 mln stg, up from 3.053 mln.
Earnings per share were 7.99p, up from 6.45p previously. The dividend was
increased to 5.5p from 5.0p. The trading profit strongly improved to 927,000 stg
from 48,000 stg as a result of sharp rise in palm oil price and despite 10 pct
crop reduction, it said.
newsdesk@afxnews.com
sk/

this is a weird one - no trades for days then 40k change hands in a few secconds the other day - then no trades again


get the feeling something may be afoot - imo etc