International Energy boost

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Andrew Feinberg

White House Correspondent

International Energy made a half-year pre-tax profit of pounds 5.177m against pounds 3.843m last time and announced a placing and one -for-four open offer to raise pounds 12.38m. The company grew its earnings per share to 7.68p from 5.61p and its dividend to 1.20p from 1.16p. The company said it will spend the pounds 12m on developing its UK natural gas business. Credit Lyonnais Laing, as agent for the company, has conditionally agreed to place 50 per cent of the new ordinary shares with institutional and other investors subject to the rights of qualifying shareholders to apply for new ordinary

shares under the open offer. The company said trading for the current year is in line with the board's expectations.