Chesterton said market uncertainty has increased following the events of September 11. In its stock market statement the company said: 'The current environment reinforces the need to continue to take strong management action, particularly in relation to costs.'

Chesterton said the cost-cutting measures would save it £4 million ($5.8 million) per annum, but it would incur costs of £2.2 million ($3.2 million) in the current reporting period, mainly in redundancy payments.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.