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BBB announce 24.5m losses

Berkeley Berry Birchs results show an operating loss of 24.5m, after a goodwill impairment charge of 19.6m, for the year ending March 31 2005.
The firm says the FSA investigation into the sale of Berry Birch & Noble Financial Services has been discontinued.
It also says the FSA investigation into Berkeley Independent Adviserss sales of life and regular savings products should be closed shortly.
The results show an increase in gross profit margin, from 26.4 per cent to 27.3 per cent with turnover at 67m.
Operating loss before goodwill amortisation and impairment and other exceptional items is reduced from 4.9m to 1.6m.
BBB executive chairman Cliff Lockyer says: “Although the operating loss before goodwill amortisation and impairment and other exceptional items has been substantially reduced, the growth of the business has been hindered by the impact of the FSA investigations.”

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