BRITISH-BASED conglomerate Lonrho reported a 44 per cent boost to pre tax profits for the year to September to £161 million sterling from £112 million the year before.

Announcing the results, chief executive Mr Dieter Bock confirmed the group's plans to demerge its mining interests, which constitute Lonhro's main activity.

Lonrho, which has interests stretching from mining and sugar to hotels, said it would pay shareholders an annual dividend of 5.25p, an increase of 10.5 per cent, while earnings per share rose to 10.2p from 6.6p.