	bowater industries profit exceed expectations bowater industries plc bwtr l pretax profits of mln stg exceeded market expectations of around mln and pushed the company s shares up sharply to a high of p from p last night dealers said the shares later eased back to p bowater reported a mln stg profit in the company said in a statement accompanying the results that the underlying trend showed improvement and it intended to expand further by developing existing businesses and seeking new opportunities it added that it had appointed david lyon currently managing director of redland plc rdld l as its new chief executive analysts noted that bowater s profits of mln stg from mln previously had been given a boost by pension benefits of mln stg profit from australia and the far east showed the greatest percentage rise jumping pct to mln from mln while the profit from u k operations rose pct to mln and europe pct to mln reuter 
