LONDON (Alliance News) - Charles Stanley Group PLC on Thursday said it expects a book loss of about GBP400,000 when it completes the sale of its Financial Solutions employee benefits business to management for GBP2.0 million.
Charles Stanley Financial Solutions reported a trading loss before tax of about GBP200,000 in the year ended March 31.
The business is being sold as part of Charles Stanley's move to focus on wealth management services.
Charles Stanley sold its corporate broking division to Panmure Gordon & Co PLC, a stockbroker and investment bank, in July.
Shares in Charles Stanley were untraded on Thursday late morning at 341.00 pence per share.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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