Hanson gains by disposals

BUSINESS disposals sent third-quarter profits at conglomerate Hanson soaring, according to figures published in Britain yesterday…

BUSINESS disposals sent third-quarter profits at conglomerate Hanson soaring, according to figures published in Britain yesterday. In the three months to the end of June, pre-tax profits soared to £713 million sterling from £252 million in the corresponding period last year after one-off gains of £448 million - compared with a one-off loss last time of £72 million.

In the nine months to the end of June, exceptional one-off gains amounted to £608 million, boosting taxable earnings to £1.5 billion against £850 million previously.

Those one-off items related to the profit on the sale of a number of businesses, including Cavenham, Sub urbane Propane, Ever Ready South Africa and Seven Seas.