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 The difference between a migrant and refugee, in one sentence
- 2 Miley Cyrus calls out hypocrisy of women’s nipples being taboo
- 3 Celebrity Big Brother 2015: Tila Tequila kicked off show after 'describing Hitler as a good man'
- 4 iPhone 5c to be discontinued, no iPhone 6c to replace it
- 5 Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
The difference between a migrant and refugee, in one sentence
Spain accused of 'provocation' after letting Russian submarine refuel off Gibraltar
Allonautilus scrobiculatus: World's 'rarest' creature spotted for only the third time ever
Miley Cyrus calls out hypocrisy of women’s nipples being taboo
Celebrity Big Brother 2015: Tila Tequila kicked off show after 'describing Hitler as a good man'
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
Labour leadership: Jeremy Corbyn accused of 'deluding' young supporters with 'claptrap'
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
Iain Duncan Smith calls for urgent ESA overhaul as part of drive to cut down welfare costs
iJobs Money & Business
£25000 - £30000 per annum: Recruitment Genius: From modest beginnings the comp...
£35000 - £40000 per annum: Recruitment Genius: From modest beginnings the comp...
£15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...
£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...