GLG reports first-half losses despite asset inflows
Thu Aug 12, 2010
New York-listed GLG Partners has reported a GAAP net loss for
the second quarter ended June 30 of $74.6 million. The non-GAAP
adjusted net loss was $3 million – reflecting some $12
million of expenses relating to the proposed $1.6 billion
merger with the London-listed Man Group.
The second quarter loss takes GLG’s first-half
GAAP net loss for the year to $135.4 million –
compared with a loss of $144.6 million in the first half of
2009 – and a non-GAAP net loss of $6.1 million for H1
2010 (compared with a profit of $90.6 million in H1 2009, which
was boosted by an $85 million gain resulting from the
retirement of debt)....
ISSN: 2151-1845 / CDC10004H
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