full-year profits yesterday and said its break-up plan had not been derailed by a European Union investigation involving the company.

The widely diversified company said it remained committed to breaking up its mining and African trading business after the sale of the Princess hotel chain -- including its two properties in Bermuda -- had been completed.

The EU recently began probing acquisition of a 28 percent stake in Lonrho by South African mining giant Anglo American. European Union officials have barred Anglo from voting its Lonrho shares pending their investigation into possible competition complications due to Anglo's interests in the platinum industry.

"It (the probe) won't stop me from going to shareholders and asking them for permission to do something in terms of a (split-up) or a sale,'' Lonrho Chief Executive Nick Morrell said.

Together with South African rival Gencor, Anglo and Lonrho control about 60 percent of world output of platinum, used in automotive exhaust catalysts.

Lonrho, with pre-tax profit before exceptional items rising to 170 million ($285 million) from 151 million ($253 million) a year ago, first announced its break-up plans a year ago.

So far, the only step taken has been the October sale of its Metropole hotel chain to Britain's Stakis Plc.

Morrell said he hoped to conclude the Princess divestment and the ensuing split-up as soon as possible.