30 August 2012 – Irish business

The group has announced that its loss-making Irish business is to appoint a provisional liquidator as it can no longer continue to sustain the level of losses due to legacy costs.  The businesses in Northern Ireland continue to trade profitably and WYG has submitted an offer to buy these, although there is no certainty that the offer will be accepted.  The removal of this loss making business from the group is good news and we re-iterate our recommendation of BUY.