Lonrho PLC
Full Lonrho PLC profile here
Lonrho is a pan-African company with a diverse portfolio of investments focusing on Africa. Its investments range from primary infrastructure to transportation, support services, hotels and natural resources. The Company is focused on servicing Western investment and African business by investing in emerging sectors across Africa, creating hubs of business through key investments. Lonrho is re-establishing a significant presence on the African Continent through strategic investments across sectors in fast-growing African economies.
Lonrho promoted into key FTSE-AIM indices
Friday, March 12, 2010
African focused investment company Lonrho (AIM: LONR) has been promoted into the FTSE AIM UK 50 Index and the FTSE AIM 100 Index, effective from the 22 March 2010. The company’s inclusion into the key indices reflects Lonrho’s growth and its position in London’s junior market, then group said in a statement.
"We are delighted that the growth of Lonrho has enabled the company to be included in these important indices operated by the London Stock Exchange,” chairman David Lenigas commented. “Lonrho continues to successfully develop its five core business divisions across the emerging African market and now operates in seventeen countries."
Last week, Lonrho’s full-year results for the year ended 30 September 2009 demonstrated the progress being made by the company’s operations in Africa.
Lonrho said its African investments are delivering real growth and strong tangible businesses in Africa. It increased turnover by 266% on a like-for-like basis. Reported revenue rose 111% to £90.9m and net asset value also rose, increasing by 16% to £81.1m. Consequently Lonrho significantly narrowed its losses to £4.5m compared with £38.7m in the previous year.
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