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BUZZ-N Brown Group: top holder Invesco adding to stake on weakness

Reuters - UK Focus

** Invesco Perpetual adding to embattled N Brown Group as stock continues to hit new year lows.

** Falls for 3rd straight day, down 1.7 pct and off 34.1 pct YTD and at lows not seen since November 2012. Chart: http://link.reuters.com/mud23w

** Disappointing results reported in September with H1 revenues stalled.

** Invesco (NYSE: IVZ - news) , top shareholder after group chair David Alliance, adding to position says Mark Barnett, who manages more than 20 bln pounds in UK equities for the group.

** "Shares (Berlin: DI6.BE - news) have been weak but there has been a lot of restructuring going on behind the scenes," he told clients on Wednesday.

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** "It is an old catalogue retailer that is doing well in transitioning from print to the internet."

** Latest filings dated 22 Sept showed Invesco bought an additional 2.9 mln shares, taking its position to 34.1 mln or around 12 pct of the company.

** StarMine projections suggests forward EPS growth could surprise: 5-year annual average projected growth of 6.9 pct v mkt-implied rate of 1.4 pct. (RM (LSE: RM.L - news) : alasdair.pal.thomsonreuters.com@reuters.net)