Lion roars in $85m profit

LION Far East Ltd yesterday reported a net profit of $85.73 million for the six months to June 30.

Earnings per share were 40.8 cents and the directors of the company did not declare any interim dividend.

Operating profit of $6.03 million was reported. Turnover for the period was $190.93 million.

The company said the rise in turnover during the period was because of an increased volume of securities trading.

During the last financial period, the company changed its financial year-end from April 30 to December 31 to conform with that of its holding company.