AWB Reports $54.1 Million Profit

SYDNEY - May 26/04 - SNS -- The Australian Wheat Board ( AWB Limited) reported an after-tax profit of $54.1 million for the six months ending 31 March 2004.

"In line with the Board's policy to maintain a stable dividend, we have declared a fully franked interim dividend of 14 cents per share to be distributed to eligible shareholders on 2 July 2004, for shareholders registered as at 18 June 2004 " said Stewart.

AWB Limited Managing Director, Andrew Lindberg, said the interim profit was a good result for shareholders, and had been supported by improved seasonal conditions in many parts of rural Australia.

"A major driver for the improved result across many business streams has been significantly larger wheat volumes," said Lindberg. The publicly traded company's situation is helped by the fact Australian farmers are forced by law to sell through the publicly traded company.

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