UK poultry processor Bernard
Matthews may yet be subject to a buyout by the Matthews family, although no
decision has been made final.

The family currently owns
a stake of 42% and a company statement revealed that, “the Matthews family
continues to consider its position regarding a possible offer for those shares
in the company that it does not already own.”

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Bernard Matthews released
H1 figures this week, which displayed a 43% rise in pre-tax profit to £15.9m
on turnover of £179m. Value-added sales rose by 7%, but were adversely
affected by the withdrawal from the export commodity business, which was otherwise
loss-making. The company directors have announced an interim dividend of 2.42p
per share, an increase of 10% from last year. Share prices provide an estimate
of the total value of the company at £182m.

UNAUDITED GROUP PROFIT
AND LOSS ACCOUNT FOR THE 28 WEEKS ENDED 16TH JULY, 2000

 

2000
(28 weeks)
£000’s

1999
(28 weeks)
£000’s
1999
(52 weeks)
£000’s
Turnover 179,367 175,287 344,254
Group operating profit 16,729 12,907 28,181
Share of operating
profit of associates		 245 86 77
Operating profit including
associates
Interest		 16,974
(1,046) 		12,993
(1,921) 		28,258
(3,215)
Profit on ordinary
activities
before taxation
Taxation
15,928
(4,677)
11,072
(3,502)
25,043
(7,881)
Profit on ordinary
activities after taxation
Minority interests
11,251
(6)
7,570
(5)
17,162
(12)
Profit for the period
Dividends 		11,245
(3,070) 		7,565
(2,738) 		17,150
(6,597)
Retained profit 8,175 4,827 10,553
Earnings
per share
Basic 9.00p 6.08p 13.78p
Diluted 8.96p 6.04p 13.71p
Dividends per share 2.42p 2.20p 5.30p

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