DR - Finance companies

Hanover posts $102.9m loss, writes off $308.9m

Tuesday 17th of November 2009

Sister company United Finance is in a somewhat better state but still posted a $24.4 million net loss after writing $29 million off the value of its assets.

The Hanover accounts, delayed by "the ongoing challenges of the economic environment" and by the need to comply with the International Financial Reporting Standards (IFRS), show Hanover's net assets, and therefore shareholders' funds...

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