LONDON (Thomson Financial) - El Oro And Exploration Co Plc. reported higher
first-half pretax profit driven mainly by strong movement in fair value of its
assets.
For the six months ended Dec 31, 2007, the mining company posted a pretax
profit of 4.81 million pounds compared with a pretax profit of 3.05 million
pounds a year earlier, while revenues declined to 1.33 million pounds from 6.98
million pounds earlier.
During the period, the company said it posted a positive fair value of 8.66
million pounds compared to a negative fair value of 199,439 pounds last year.
The company said it is well placed in its traditional areas of strength
particularly basic resources, energy and precious metals and expects the latter
to thrive in the current climate of lower property prices.
tf.TFN-Europe_newsdesk@thomson.com
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