Highlights:
Good performance at Franklins
Steady growth in Hong Kong retail
Solid balance sheet with net cash
Results: (unaudited) US$m
Six months ended 30th June 1998
Sales from continuing activities
1998 2,889
1997 3,224
change% -10
Profit attributed to ordinary Shareholders
1998 87
1997 40
change% +118
Net profit from continuing activities
1998 47
1997 44
change% +6
Earnings US¢
Earnings per ordinary share
1998 4.74
1997 2.26
change% +110
Earnings per ordinary share from continuing activities
1998 2.57
1997 2.51
cange% +2
Dividends per ordinary share
1998 1.65
1997 1.65
change% -
"The quality of our major business in Hong Kong, Australia and New Zealand continues to improve. With our strong balance sheet, the Group is well placed to take advantage of new investment opportunities in the more difficult economic conditions in Asia pacific and we will continue to support our existing business by investing in procurement systems and people."
Simon Keswick, Chairman
16th September, 1998