ASTO Assetco Plc

    RNS Number : 5208Y
  AssetCo PLC
  08 July 2008
   

 For Immediate Release  8 July 2008

                        

    AssetCo plc
    ("AssetCo" or the "Company")
    AGM Statement

    AssetCo plc, (AIM : ASTO) the leading support services group to the UK Fire and Rescue Authorities, wishes to update the market on
current trading and prospects ahead of its Annual General Meeting which will be held at 11.30am today.

    Updating shareholders on current trading, Tim Wightman, Chairman of AssetCo, said: 

    "Further to our last trading update at the end of May, which highlighted a record year in FY08 with underlying profit before tax
increasing by over 100% to c.�10m, I am very pleased with the Company's trading performance in the first quarter of the current financial
year which continues to meet the Board's expectations.



    This encouraging performance of the business for FY09 has three key drivers:

    *     the ongoing growth and expansion of services in our long term contracts (FY08 revenue growth rate of 14%);
    *     synergies resulting from the integration of the six companies acquired in the last financial year; and
    *     the benefits of our ongoing efficiency and client service improvement programmes.

    Our strategic goals remain unchanged. We have made considerable investment in pursuing new long term contracts both in the UK and in the
Middle East which, if successful, would be reflected in FY10's results. The Board views the Company's prospects with confidence as it
continues to benefit from a high degree of visibility from its primary 20 year government contracts which provide it with a strong defensive
platform in the current uncertain economic environment."




    For more information please contact:

 AssetCo plc                                         Tel: +44 (0) 20 8515 3999
 John Shannon
 Frank Flynn

 Buchanan Communications                             Tel: +44 (0) 20 7466 5000
 Tim Anderson
 Isabel Podda

 Hoare Govett Limited - Nomad                        Tel: +44 (0) 20 7678 8000
 Stephen Bowler
 John MacGowan
 Richard Crichton

 Kaupthing Singer & Friedlander Capital Markets Ltd  Tel: +44 (0) 20 3205 5000
  
 Nicholas How
 Marc Young


This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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