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DBS announces results

The UK&#39s largest network DBS has almost tripled its profits in the last tax year freed from the burden of pension review costs which restricted the previous year&#39s results.


Profits before taxation in the year ending March 31 1999 were £7.4m compared with £2.6m the year before after costs are extracted.


But if these exceptional items are included in the calculations, profits actually show a fall from £9.6m in 1997/1998 to £8.2m in 1998/1999.


The profits hit from exceptional items was only £0.8m this year in sharp contrast to £7m in 1998 to cover the cost of the pensions&#39 review.


Turnover was up by 11.7 per cent to £159.4m from £142.7m.


The announcement takes place as takeover talks with Sun America, owned by global insurance giant AIG, are at an advanced stage.


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