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BRIEF-N Brown says expects FY exceptional costs to be around 24-27 mln stg
April 11, 2017 / 1:26 PM / 3 months ago

BRIEF-N Brown says expects FY exceptional costs to be around 24-27 mln stg

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April 11 (Reuters) - N Brown Group Plc:

* Has previously guided to FY17 exceptional costs of c.£12m, of which £9m related to financial services customer complaint redress

* Now expect cost of likely future complaints to be higher than our previous estimate

* Therefore expect to incur an FY17 exceptional cost related to financial services customer complaint redress in region of £22m - £24m

* Cash cost associated with this exceptional item will be incurred over period to august 2019.

* Continue to expect an additional £2m - £3m exceptional costs in fy17 in relation to our ongoing historic tax cases

* Total fy17 exceptional costs are therefore expected to be in region of £24m - £27m Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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