Lonrho hit by £3.4m loss

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The Independent Online

The African conglomerate Lonrho suffered an underlying loss of £3.4m after a year beset by fishing problems and late deliveries of tractors.

The industrial and agricultural group issued its full-year results following a profit warning last month. That was blamed on not being able to catch enough hake to fulfil a contract and import delays of tractors and other equipment into Mozambique.