C.P. POKPHAND, a diversified trader with substantial China interests, has announced 27 per cent higher net profits of US$44.26 million, which are substantially below the 37 per cent increase analysts had expected. Basic earnings per share fell to 2.42 cents from 2.53 cents, thanks to the exercise of warrants. But on a fully diluted basis, earnings per share rose to 2.22 cents from 1.99 cents. Turnover rose 48 per cent to $199.88 million. The company announced an unchanged final dividend of 0.769 cent, leaving the total dividend unchanged at 1.153 cents.