At a board meeting held on Tuesday, the company announced an interim dividend of Rs 2.40 per equity share for the year ended December 31, 1998. This is against the interim dividend of Rs 2 per share declared in 1997. The company had paid a dividend of Rs 4.20 per share in 1997.

SBCH recorded a profit before tax (PBT) of Rs 49.2 crore, a 22 per cent rise over last year.

The company's turnover rose to Rs 311.4 crore in January-June 1997, up from Rs 266.6 crore for the first-half of 1997, representing an 17 per cent increase. The gross operating profit rose by 22 per cent to Rs 53.2 crore from Rs 43.7 crore for the same period in 1997.

Commenting on the company's performance, managing director Simon J Scraff said: "We are well-enthused by the strong first-half performance of the company in 1998.Coming after a very successful 1997, despite subdued market conditions, generally, I believe it reaffirms the popularity of our quality products ranging from Horlicks and Boost to Ribena Amla. SmithKline has demonstrated its commitment to the highest standards of consumer healthcare."

In line with the company's long-term vision to leverage its global resources and comprehensive knowledge of science-based healthcare products and reflecting its commitment to the country, all future introductions of nutritional healthcare products in the country will be routed through SmithKline Beecham.

Several products are at an advanced stage of development and testing, and will form part of its formidable portfolio in the coming years.

To ensure that the company continues to retain its position of pre-eminence in a fast-changing business environment, it has made significant investments in marketing and up-grading its various plants and processes.

SBCH is an Indian associate of Smithkline Beecham of the UK. It is thelargest player in the domestic malted-food industry. The company has manufacturing plants in Nabha and Rajahmundryand, employing 2,000 people.