Penrice Soda Holdings Ltd reported a net profit of AUD 2.7M for the half year to 31 December 2007, up 15% compared with the prior corresponding half. Revenue was down 6% to AUD 66.5M. An interim dividend of AUD 0.055, fully franked, will be paid 30 April 2008 with record date 16 April 2008. Soda ash sales were down 11% largely because of discontinuing a large, loss making contract. The global outlook for soda ash is marked by strong demand and limited supply and the company has pursued higher prices to recover costs, with further price rises expected as the markets tighten. A positive impact from the renewal of existing contracts in the 1H 2008 will occur in the 2H. Mining industry contracts will also take an increasing part of the company's business. Penrice expects higher comparative earnings for the full year.
