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Industrial group Lonrho estimates 2012 loss on contract, project delays

Reuters
February 5, 2013, 12:32 am TWN

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LONDON -- British industrial group Lonrho PLC said it would post a net operating loss for 2012 as there were delays in the delivery of certain contracts and implementation of some projects in its core agribusiness.

Lonrho, an industrial group with interests in Africa that operates through four divisions — agricultural operations, infrastructure, support services and hotels, said it expects to report a net operating loss of between 3 million pounds and 5 million pounds (US$4.7 million-US$7.9 million) for the year-ended Dec. 31.

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