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Assetco profits more than halve as currency headwinds weigh

By BFN News | 08:36 AM | Wednesday 27 June, 2018


Middle East fire and emergency services provider Assetco said Wednesday operating profit more halved in the six months through March, from the same period a year earlier, as adverse FX movements and reduced training and logistics revenues weighed. For the six month period ended 31 March 2018, operating profit fell 70.5% to £0.5m from £1.7m. Assetco said the profits took a £0.7m from adverse currency movements, and a £0.5m hit from a fall in training and logistics revenues. The company's lawsuit against Grant Thornton for professional negligence - which with interest amounts to approximately £40m - was in the process of being heard in the High Court with a decision expected later in this year, Assetco said. At 8:36am: (LON:ASTO) AssetCo PLC share price was 0p at 395p Story provided by StockMarketWire.com

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