GPG still wrangling UK pension liability, Coats 1H earnings more than doubles

Tue, 12 Aug 2014

By Paul McBeth Aug. 13 (BusinessDesk) - Guinness Peat Group is still grappling with its UK pension liability and has offered to bump up the level of support for the schemes, while announcing a near-trebling in first-half earnings for its Coats threadmaker unit. GPG, which plans to rebrand as Coats once it settles the pension liability, is still in negotiations with the UK Pensions Regulator and the trustees of the two schemes, which have been holding up its return to shareholders. The investment firm's board has proposed to retain 170 mil...

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