AWB Reports $96.9 Million Profit

SYDNEY - Nov 23/04 - SNS -- The Australian wheat marketing board, AWB Limited, reported an after-tax full year profit of A$96.9 million for the year ended 30 September 2004. If goodwill and amortization are not taken out, the net result for the year is $134.7 million.

Based on these results, the company will pay a fully franked final 2003-04 dividend of 11 cents per share, to be distributed to eligible shareholders on 17 December 2004 for shareholders registered as at 3 December 2004. The company earlier paid an interim dividend of 14 cents per share for a total fiscal year dividend of 25 cents.

AWB Limited Managing Director, Andrew Lindberg, said, "The major drivers for the improved result across many business streams have been the significantly larger wheat volumes from the 2003-04 harvest and the inclusion of the full year's earnings from Landmark.

"Wheat production from the 2003-04 harvest was a record 25.2 million (metric) tons (MT), a substantial increase from the drought affected 2002-03 harvest of 9.7 million MT.

Subscribers can read the full text of the article by Clicking here