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Article: A streamlined HHG now ripe for plucking.(HHG PLC)(Brief Article)

Article from:
Australasian Business Intelligence
Article date:
March 23, 2005
Author:
Copyright

Mar 23, 2005 (The Courier-Mail - ABIX via COMTEX)

UK-based and Australian-listed HHG Plc has announced a net profit of Stg38m ($A91m) for calendar 2004. This compares with a loss of Stg847m in 2003. HHG was spun off by Australia's AMP, and plans to change its name to Henderson Group following the sale of its Life Services division. It will then focus on the fund management sector, and Peter Vann of Constellation Capital Management believes that it could then become a takeover target. Marcus Padley of Tolhurst Noall also suggests that a takeover bid could emerge after the Stg1.07bn sale of Life Services to Life Company Investor Group.

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