Cargo interim results August 08
Mon, 03 Nov 2008
Revenue for the period has increased by 15.0% and profit from operating activities has increased by 34.3%. Finance costs have increased substantially in line with capital expenditure and interest rate increases within the reporting period. Depreciation has, however, decreased in comparison to the reporting period last year as a result of an associate being partially consolidated in the prior year. Earnings per share have increased by 39%, however, headline earnings per share have decreased by 12.9% in comparison to the prior year. Dividend Declaration An interim dividend of 9.5cps has been declared to shareholders. Prospects The growth in volumes in the industrial segment have slowed as a result of the large increase in input costs, but continuing infrastructure expenditure will result in stable results. The company's operations in the agricultural segment have been negatively affected by industrial action, plant unreliability and unfavorable weather patterns. There is an intense focus on resolving these factors, where possible, but an improvement in the results of this segment is not anticipated.
