Trading Update
14 4월 2009 - 3:00PM
UK Regulatory
TIDMASTO
RNS Number : 4910Q
AssetCo PLC
14 April 2009
Trading Update
AssetCo plc, (AIM : ASTO) the integrated support services business,
today provides a
trading update for the year ending 31 March 2009.
Despite the difficult overall economic environment and the non-recurring losses
incurred at UVM and TVAC outlined in the interim results, pre-tax profits,
before discontinued operations and exceptional restructuring costs amounting to
approximately GBP1.5million, are expected to be at the lower end of market
expectations. As already announced, TVAC was placed into administration in
December 2008, therefore it will be accounted for as a discontinued operation
with the investment being written off in full.
AssetCo has maintained its order book at GBP600m. It continues to benefit from a
high degree of visibility from its long term integrated service contracts which
continue to grow. However, in the current economic environment, there is less
visibility of revenues above AssetCo's core base contracts than historically.
The reduction in overhead costs and the investment made during the year in the
vehicle and equipment businesses, particularly UVM, will enable them to benefit
as and when economic conditions recover. In addition, the Group has also made
significant investment for the future in the Middle East.
The Company's Full Year Results are expected to be announced the week
commencing
16 June 2009.
Enquiries:
+-----------------------------------------------------+---------------------------------------------+------------------------------------------------+
| AssetCo | | Tel: |
| | | +44 |
| | | (0) |
| | | 20 |
| | | 8515 |
| | | 3999 |
+-----------------------------------------------------+---------------------------------------------+------------------------------------------------+
| Frank | | |
| Flynn, | | |
| Chief | | |
| Financial | | |
| Officer | | |
+-----------------------------------------------------+---------------------------------------------+------------------------------------------------+
| James | | |
| Collins, | | |
| Investor | | |
| Relations | | |
+-----------------------------------------------------+---------------------------------------------+------------------------------------------------+
| | | |
+-----------------------------------------------------+---------------------------------------------+------------------------------------------------+
| Pelham | | Tel: |
| Public | | +44 |
| Relations | | (0) |
| | | 20 |
| | | 7337 |
| | | 1500 |
+-----------------------------------------------------+---------------------------------------------+------------------------------------------------+
| Alex | | |
| Walters | | |
+-----------------------------------------------------+---------------------------------------------+------------------------------------------------+
| Francesca | | |
| Tuckett | | |
+-----------------------------------------------------+---------------------------------------------+------------------------------------------------+
| RBS | | Tel: |
| Hoare | | +44 |
| Govett | | (0) |
| - | | 20 |
| NOMAD | | 7678 |
| | | 8000 |
+-----------------------------------------------------+---------------------------------------------+------------------------------------------------+
| Stephen | | |
| Bowler | | |
+-----------------------------------------------------+---------------------------------------------+------------------------------------------------+
| John | | |
| MacGowan | | |
+-----------------------------------------------------+---------------------------------------------+------------------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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Assetco (LSE:ASTO)
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