FIRST PACIFIC COMPANY LIMITED: First Pacific's first half profit rises fourfold to us$436 million.

0 Comments | M2 Presswire, September, 1998

M2 PRESSWIRE-7 September 1998-FIRST PACIFIC COMPANY LIMITED: First Pacific's first half profit rises fourfold to us$436 million (C)1994-98 M2 COMMUNICATIONS LTD RDATE:070998 * Bolstered by proceeds of Hagemeyer sale First Pacific Company Limited reported today that its attributable profit rose nearly fourfold in the year's first six months to US$435.6 million (HK$3,397.7 million), bolstered by proceeds from the sale in March of its Dutch-based subsidiary, Hagemeyer, in one of the largest secondary offerings ever to take place in Europe.

Attributable profit before exceptionals fell 77.4 per cent to US$23.7 million (HK$184.9 million), as earnings per share fell by a corresponding 77.5 per cent to US1.00 cent (HK7.80 cents). This performance reflects...