Sesame suffers £1m loss in first half

Economic conditions have been blamed for Sesame's performance, after the firm made a £2m profit in the first half of 2008. Sesame's full year underlying profits are expected to be well below the £10m reported last year. The results follow the news Resolution will acquire Friends Provident for £1.86bn as the base for its latest restructuring project. IFRS profits before tax increased to £38m in the first half of the year, up from £13m in the same period of 2008. However, continuing operations incurred a £102m loss before tax. On an EEV basis, underlying profits fell 38% to £131m...