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"Global equity trading levels were disappointing," said the chairman, Thomas A. Renyi.
Daily trading levels in August were 25percentt lower than in July.
"The current trading levels of these securities presented an opportunity to redeem them at well below their face value".
We expect, following targeted capital investment and operational synergies from integration into Greene King, that these sites will return to more normalised historic trading levels.
Seymour Pierce analyst Hugh-Guy Lorriman said: Greene King advises that the underlying trading levels of these units will improve post acquisition.
"The sterling crisis would pass very quickly, because everything reverts to the mean, and the mean would be 'what are the fundamental trading levels for sterling?'" says Murphy.
Similar(27)
At a "trading" level profits rose from £1.35m to £4.5m.
That would be above its original trading level of $1.17 at the beginning of 1999.
At a trading level, stripping out exceptional items, operating profits hit £2.5m in the year to the end of September 2013.
At a "trading" level, excluding items such as interest repayments and redundancy costs, the Independent and Independent on Sunday lost just £3.74m last year.
The company said that at a trading level, stripping out one-off redundancy and restructuring costs, the titles' losses were a shade under £10m last year.
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