Giles CFO blames ownership structure for debt increase as backer seeks sale
Giles chief financial officer Paul Matson has denied the broker’s finances are worsening, despite parent firm Expectrum’s annual figures showing increased debt on the balance sheet.
The firm reported a pre-tax loss of £39.51m for the year to 31 August 2012, up from £37.48m a year earlier, while operating losses also increased from £3.69m in 2011 to £4.56m in the 12-month period.
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