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Jagged Blue |
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Tuesday, March 5, 302 AP
Web posted at 1242 UST.
Belson Corporation today reported a 170% increase in profits, promised to pay out Û7 billion in dividends, and has prepared a Û21 billion "warchest".
Today was the first day of Belson Corporation's long-awaited annual general meeting. The
company's share price (BEL:LSX) has been soaring in the past few weeks on reports of a
"bumper year" for the company. The company's share price was Û142.73 on January 1st,
but ended yesterday at Û200.40, thus valuing the company worth over Û63.1 billion
and providing a "bumper year" to investors.
At the company's behest, Belson shares have today been suspended on the Luka Stock Exchange. Trading will begin tomorrow with expectations of a significant rise in the share price.
Belson's Chairman and Acting CEO announced to the crowded room in the 8,000-seat Dyson Auditorium in downtown Luka, over the first hour of his Chairman's report, the following:
- Û33 billion in gross profits, or Û27 billion in real profits,
- Representing a nett operating profit of 44.8%,
- A 150% increase in export revenues to Û39.25 billion,
- A dividend of Û22.5 a share, totalling over Û7 billion,
- The long-suspected purchase of BlueTel (to be renamed Belson Blue), a struggling cellular phone network in financial strife that Belson executives have been salivating over for months, (more...)
- The purchase of the newly privatised CimRail, Cimera's (now formerly) Government-owned rail network company, (more...)
- A further Û8 billion in reserves to be spent on expanding the company,
- A Û50 billion asset base for Belson, including Û7 billion on Utanian rail assets,
- A Û4.3 billion Foods processing and manufacturing expansion, AND
- Employment growth of 4.6% last year while revenues grew by 70%.
Export-driven growth
The monolithic, nation-dominating, multi-billion pund Belson Corporation is almost twice as big, monolithic and nation-dominating, after a enormously profitably year on the back of exports, that has the company positively embarrassed.
While only 41.3% of all agricultural exports were exported by the Belson Corporation, the country's nearly 200% growth in exports have helped propel the Belson Corporation into record profits.
The Chairman thanked the efforts of the Minister for Trade who signed the deals with the Lendosan Confederation, Bowdani, Feniz, Guwimith and Wesmerite, worth over Û90 billion, of which Belson secured Û39.25 billion.
"We owe a great deal of this simply superb year of prosperity to Arthur Reagan, Minister for Trade", the Chairman told the packed Auditorium. Yet, he pointed out, it was the excellent management of the company that allowed it to not only secure the export deal, but to be able to fulfill the orders.
"Belson Corporation was asked to transport almost twice as much produce this year as last year, to arrange the shipment of these goods, delivery from the farms -- none of which would have been possible had Belson not been preparing the company over the past six years."
The Chairman said the company's profits this year -- revenue gained without a proportional increase in expenses -- were proof that the company was "well prepared" by the six-year plan laid down by the Board five years ago.
Related Stories
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Belson to take over CimRail
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Related Websites
Belson Corporation webpage
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©Zeitgeist Magazine, 300 AP.
<TECH> ©Mike Ham, 2000. All rights reserved. No reproduction without, at least, tacit approval. ;-) |