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Queensland Cotton Reports Profit
SYDNEY - Nov 11/05 - SNS -- Queensland Cotton reported an after tax profit of AUD$3.7 million for the six months ending August 31 on $306 million in revenue.
A fully franked interim dividend of 8 cents per share, up from 6 cents last year, will be paid on 29 November to shareholders registered on November 22.
Queensland Cotton's Chief Executive Officer, Richard Haire, said the half year result was in line with expectations and consistent with the company's outlook for the full year to February 2006 as projected in June 2005.
Queensland Cotton has incurred approximately $1 million in costs to date on the proposal to merge with Namoi Cotton Co-operative, which are fully reflected in the operating result.
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