Thorn reports underlying profit rise

Thorn reports underlying profit rise

Thorn EMI yesterday beat most analysts forecasts with a rise in underlying pre-tax profits from pounds 344.2m to pounds 423.6m for the year to 31 March. Stated profits, however, fell from pounds 326.5m to pounds 271.2m after exceptional charges, mainly relating to the closure of the Rumbelows electricals business. Dividend total rise from 34p to 36.5p. EMI is forming a joint venture with Apple Computer to speed the introduction of the enhanced Compact Disc format.

Investment Column, page 34