Aberdeen's 151pc boost

Listed investment company Aberdeen Leaders has more than doubled first-half profit. It says the defensive quality of its portfolio should hold it in good stead over the long term. The company said key risks to corporate earnings in 2008 would be exposure to the slowing US economy, a strong Australian dollar and increases in operational and borrowing costs. Net profit for the six months to December 31 rose 151 per cent to $9.813 million as the firm's investment portfolio generated a gross return of 24.8 per cent. Given market opportunities, Aberdeen Leaders has drawn an additional $10 million from its bank facility to buy stocks. The firm will still have a conservative gearing ratio of about 23.5 per cent. AAP