P527ORACLE 527 Mon20 Jan C4 1703:54
TSB SURPLUS UP 10%
TO £170m
TSB, the banking group that is hoping
to say yes to a £1bn share flotation in
the summer, has reported a 10.1% uptuqn
in pre-tax operating profits.
The group's surplus jumped to £169.3m
for the year to November 20 as advances
to customers grew by 36.5% to £4.65bn.
The bank's planned flotatign was halted
after a legal challenge by investors
claiming ownership of TSB in Scgtland.
Reed International is paying $7.3m
(£5.1m) in cash for the Missouri-based
paint manufacturer Caldwell which last
year produced profits of $1.7m (£1.2m).
* HOLIDAYS GALORE! * 580