BET SAYS RESULTS SHOW STRATEGY IS WORKING
BET Plc <BETL.L> said slightly higher
than expected results for the year to March showed that its
strategy was working. BET raised pretax profits in the year to
157.4 mln stg from 124.6 mln previously.
    It had continued to build on a range of complementary
services through a combination of organic growth and carefully
targetted acquisitions.
    A company statement said it was confident that the figures
would provide an effective springboard for the broadening of
its shareholder base, particularly through the issue of
American Depositary Receipts in the U.S. Later this year.
    BET also said it was appointing Sir Timothy Bevan, formerly
chairman of Barclays Plc to replace Sir Hugh Dundas when he
retires as Chairman in December.
    BET's net debt fell four pct in the year to 262 mln stg
with gearing down to 63 pct from 65 pct.
    Returns on assets, sales  and capital employed showed
further improvement in the period.
    BET shares at 0907 GMT were quoted at 291p, one penny
firmer on last night's close.
 REUTER
