GPG sinks back into the red on Coats' fine; pace of asset sales too slow

Tue, 28 Aug 2012

By Paul McBeth Aug. 29 (BusinessDesk) - Guinness Peat Group, which now counts British billionaire George Soros as a substantial shareholder, sank into the red in the first six months of the year after the European Court imposed a 110 million pound fine on threadmaker Coats, more than had been provided for. The investment firm made a loss of 36 million pounds, or 2.23 pence per share, in the six months ended June 30, compared to a profit of 13 million pounds, or 0.72 pence, a year earlier. The loss came primarily from the European Court's fin...

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