LONRHO AFRICA POSTS HEALTHY FULL YEAR PROFITS

Lonrho Africa, which owns Kenyan airline Fly540 and is launching Angola’s first privately-owned commercial airline, has reported full year revenues of £107.8 million, which rose from £89.7 million in the 12 months to September. Pre-tax profits were £500,000 compared with a pre-tax loss of £5.9 million. Cash balances at year end were £7.8 million. Lonrho has investments in 17 African countries and operates a number of companies including Fly450, hotels in Mozambique and has a 63pc stake in the Luba Freeport in Equatorial Guinea.