AWB Profits Sink

SYDNEY - May 24./06 - SNS -- The Australian wheat marketing board, AWB Limited, reported an after tax profit of A$46 million for the six months ending March 31, versus $105.1 million after the first six months of the previous fiscal year.

Explaining the drop in profits, AWB said, "This decline was mainly attributable to the sale of AWB's stake in Futuris during the previous financial year, and significant one-off costs and adjustments in this half."

Based on the results, the company declared a fully franked interim dividend of 16 cents per share, the same as last year. The dividend will be distributed to eligible shareholders on 6th July 2006, for shareholders registered as at the 16th June 2006.

AWB Limited Chairman, Brendan Stewart, said, "More than 57% of wheat exports from the 2004-05 Pool were shipped to Asia, on track with 'Shaping the Future' targets. This includes record shipments to Thailand, Taiwan, Sudan and Myanmar."

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