StockMarketWire.com - Manchester Building Society Group posted an annual loss, owing to falling revenue and higher legal fees.

Pre-tax losses for the year through December amounted to £937k, compared to losses of £780k on-year.

Revenue fell 6.8% to £8.9m, as the company continued a managed run-down of its balance sheet.

It had also recorded higher reserves releases in the previous year.

Administrative expenses increased by £2.2m owing to additional legal fees relating to the claim for damages made against GT.


At 9:54am: [LON:MBSR] Manchester Building Society share price was 0p at 16.38p



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