Guiness Peat Group chairman Sir Ron Brierley has pledged to return value to shareholders after the listed investment group lost Stg 36 million last year. The result was worse than expected.
Sir Ron says the result for the year ending December was worse than expected, largely due to items beyond the company's control, such as volatile exchange rates.
Coats, a threadmaking business owned by the company, lost Stg 3 million.
Sir Brierley says returning shareholder value is the company's top priority and the board is actively working on proposals, though it's not yet ready to announce what they are,
Despite the losses, GPG says it will still pay a dividend of 1 pence per share.