Lonrho considers African float

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Lonrho is considering a flotation of most of its African trading businesses within the next 12 months, Dieter Bock, chief executive, said yesterday. The company, which is also considering a flotation of its Metropole and Princess hotel chains, announced a 53 per cent rise in underlying profits for the six months to March to pounds 52m. Earnings per share jumped 113 per cent to 3.2p and an interim dividend of 2.25p was declared.

Investment Column, page 26