GPG says Coats reorganisation costs to dent 2012 results

Tue, 13 Nov 2012

Nov. 14 (BusinessDesk) - Guinness Peat Group, the investment firm liquidating its portfolio, said it is accelerating its reorganisation of the Coats thread-making business, its biggest asset, which will drive up costs and dent profit this year and next. Full-year profit before interest and tax at Coats would be in line with market expectations before reorganisation costs, which were expected to be between 16 million pounds and 19 million pounds higher than in 2011, it said in a statement. Charges in 2013 would be 13 million pounds to 19 milli...

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