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  1. Wealth
May 21, 2009

WBrief: UBS restates 08 results, reduces net profit

By Spear's

As presaged in its first quarter 2009 report, UBS has restated its annual results for 2008, producing a reduction in its net profit for last year.

As presaged in its first quarter 2009 report, UBS has restated its annual results for 2008, producing a reduction in its net profit for last year.

For full-year 2008, the total net impact of all restated items was a reduction of net profit and net profit attributable to UBS shareholders of SFr405 million ($369 million) and a reduction of equity and equity attributable to UBS shareholders of SFr269 million, the Swiss-listed giant said in a statement.

The statement did not break down the restated figures into specific business divisions such as wealth management and investment banking.

To read the full article, visit wealthbriefing.com

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