Printer Friendly

MINORCO ANNOUNCES PRELIMINARY RESULTS FOR THE YEAR TO JUNE 30, 1993

 LONDON, Sept. 28 /PRNewswire/ -- Minorco (NASDAQ: MNRCY) today issued the following summary of results for the twelve months to June 30, 1993:
 -- Earnings before extraordinary items increased to US$211 million (1992: US$206 million).
 -- Earnings after extraordinary items increased by 29 percent to US$279 million (1992: US$216 million).
 -- Dividend up 6 percent to US$0.57 per share, the eighth consecutive annual increase which over the period equates to an annual compound rate of growth of 13 percent.
 -- US$242 million was invested in operating businesses and US$387 million was spent on acquisitions and investments.
 -- Proposed merger transaction in terms of which Minorco will acquire significant mining and industrial interests principally in South America, Europe, South East Asia and Australia. Another major step in Minorco's evolution into a predominantly natural resource operating group.
 MINORCO
 FOR THE YEAR TO JUNE 30 1993 1992
 US dollars millions:
 Sales 1,726 1,667
 Earnings before taxation 257 253
 Earnings before extraordinary items 211 206
 Earnings after extraordinary items 279 216
 Net cash provided by operating
 activities 198 319
 Capital expenditure 242 154
 Acquisitions and investments 387 308
 US dollars per share:
 Earnings before extraordinary items 1.25 1.22
 Dividends declared (A) 0.57 0.54
 (A) -- Recommended by directors and subject to shareholders' approval.
 -0- 9/28/93
 /CONTACT: Hank Slack or Carina Corbett of Minorco, in London: 44-71-430-8555, or Anthony Richmond-Watson or Rupert Thistlethwayte of Morgan Grenfell, in London: 44-71-588-4545, or Alison Hogan or Karen Simmonds of Brunswick Public Relations, in London: 44-71-404-5959/
 (MNRCY)


CO: Minorco ST: IN: SU: ERN

TS -- NY012 -- 6192 09/28/93 07:27 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 28, 1993
Words:272
Previous Article:AMERICAN EXPLORATION COMPANY ADOPTS STOCKHOLDER RIGHTS PLAN
Next Article:SMITHKLINE BEECHAM ACQUIRES ANIMAL HEALTH PRODUCTS FROM HOFFMANN-LA ROCHE
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters