Hanson completes demerger
Tuesday 25 February 1997
The demerger, which split Hanson's coal and electricity businesses into the separately quoted Energy Group, means that following its reduced status the company's earnings now depend on the cyclical construction industry. Announcing an 11 per cent increase in operating profits for these core operations in the three months to 31 December, Lord Hanson said: "Difficult conditions persisted in our UK markets but our main businesses all performed very creditably."
However, the results showed some boost from the long-awaited improvement in the housing market. "The housing upturn in the UK has translated into additional demand for bricks and we anticipate this will extend to our other building products," explained Lord Hanson. Brick profits rose by 50 per cent to pounds 6m.
Headline pre-tax profits in Hanson's combined operations including the demerged Energy Group slumped from pounds 248m to pounds 157m in the three months to the end of December. However the results in 1995 included pounds 205m of earnings from businesses later sold or demerged before the latest split.
- 1 Secret Cinema interview: Why were Back to the Future screenings cancelled?
- 2 Christians: The world's most persecuted people
- 3 Israel-Gaza conflict: The secret report that helps Israelis to hide facts
- 4 Students offered grants if they tweet pro-Israeli propaganda
- 5 Iraq crisis: End 'very near' for Christianity after Isis takeover, says Bishop
Israel-Gaza conflict: John Prescott condemns bombardment of Gaza as a 'war crime'
Margaret Thatcher ‘was warned of Tory child sex party claims’
Israel-Gaza conflict: Obama presses Netanyahu to call ‘immediate and unconditional’ Gaza ceasefire
Lauren Goodger calls for tougher laws on revenge porn after sex tape leaks online
Iraq crisis: End 'very near' for Christianity after Isis takeover, says Bishop
Israel-Gaza conflict: The secret report that helps Israelis to hide facts
A day in the life of Vladimir Putin: The dictator in his labyrinth
Opponents of Israel's military operation in Gaza are the real enemies of Middle Eastern peace
Were 'Poor Doors' added to mixed developments so wealthy residents don't have to go in alongside social housing tenants?
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
iJobs Money & Business
£40000 - £45000 per annum: Ashdown Group: An established professional services...
£600 - £650 per day: Orgtel: Conduct Risk Liaison Manager - Banking - London -...
£18000 - £23000 per annum + Comission: SThree: SThree, International Recruitme...
£280 - £300 per day + competitive: Orgtel: Test Analyst, Edinburgh, Credit Ris...