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Contract miner Henry Walker Eltin Group Limited (HWE) said today its net profit rose 20.7% to $8.17 million for the six months to December 31, 2001. Revenue from ordinary activities was up 4.9% to $607.19 million. The result was below market expectations.
An interim dividend of 3.5 cents a share has been declared, down 1.75 cents.
Shares in HWE are trading at $1.28, down 36.5 cents or 22.2%.

Profit up 20.7%, stock price drops 22.2%. Looks like they were expecting a profit in the area of 15 to 20 million $.
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