LONDON (Thomson Financial) - Worthington Group PLC said it swung to a full
year pretax loss on non-recurrent disposal charges of its joint venture, and
added it is continuing to pursue suitable investment opportunities.
The textile manufacturer said its pretax loss for the year ended March 31
was 331,000 stg compared to a pretax profit of 282,000 stg the previous year.
For the year, disposal charges for its joint venture with Worthington
Manufacturing Ltd was 476,000 stg.
Net asset value for the year stood at 2.58 mln stg, down from 2.98 mln in
the earlier year.
The group's restructuring has been completed by placing its 34 non-trading
or dormant subsidiaries into liquidation.
TFN.newsdesk@thomson.com
ukn/cmr
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