Review of Trading and Financial Performance
2010年8月6日 - 8:19PM
RNSを含む英国規制内ニュース (英語)
TIDMCNT
RNS Number : 6861Q
Connaught PLC
06 August 2010
Connaught plc
("Connaught" or the "Company")
Review of Trading and Financial Performance
In its announcements of 26th and 29th July, 2010, Connaught said that it was
undertaking a review of its current year trading performance and the
implications this may have on its full year financial performance.
This now indicates that the Company will record a material loss at an EBITA
level (including current year exceptionals) and will be no better than breakeven
at an adjusted EBITA level for the current financial year to 31st August, 2010.
At the same time we are reviewing the segmental presentation of the business.
In addition, the Company also anticipates making provision for future losses on
current contracts in its results for the financial year ending 31st August,
2010.
In the context of its reviews, the Company also anticipates that it will make
significant write-downs in respect of the carrying value of assets as at 31st
August, 2009, the previous year end. This is before taking account of the impact
of the ongoing assessment into the accounting policy for mobilisation costs.
The Company's review is continuing and further details will be announced in the
preliminary results for the current financial year.
Sir Roy Gardner said:
"Further to my appointment as Chairman in May and my establishing a series of
independent reports on the business, it is clear we face challenges in turning
this Group around, but I remain both confident that this can be achieved and
committed to seeing the process through.
"My focus, and that of the new executive team, will be to continue the
plans for the refinancing of the Company for the benefit of all our stakeholders
who have shown loyalty to Connaught over the years. The business remains
committed to delivering excellent quality and service for our clients.
This is a business worth fighting for and my new team and I ask for your
continued support for our efforts to rebuild Connaught."
Contacts
Connaught 01392
340 667
Paul Haines
Finsbury
020 7251 3801
Faeth Birch
This information is provided by RNS
The company news service from the London Stock Exchange
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