Chaucer stabilises with 2009 profit
Chaucer has turned around a loss-making 2008 to post profits
slightly ahead of analyst expectations for 2009.
The £42mn profit before tax follows a £26mn loss in 2008,
and compares to analyst forecasts of around £40mn.
However, despite the recovery return on equity was a relatively lowly 9.7 percent, with shares reacting negatively to the results to trade down 3.66 percent at 46p at the time of writing.
Net tangible assets rose to 52.8 pence per share after taking into...
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