Saturday, Sep 16, 2006

Bad debt is everywhere

Guardian Online: Bad debts eat into Co-op profits

The rise in provisions for debts that have turned sour was almost entirely responsible for the fall in Co-op's profits in the first half of the year to 44.7m from 60.2m. Without a 58.2m provision against bad debts - up from 43m - profits would have been over 100m, the bank said.

Posted by uncle chris @ 10:38 AM (1715 views)
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