PFI sale delays to hit Sweett results

26 June 2012 Consultancy Sweett Group has issued a profit warning due to delays to the sale of its stake in two Scottish schools PFI projects.
The technical consultancy has deferred its results announcement for the year to 31 March 2012 until August, and blamed the delays in “completing certain transactions, principally the Inverclyde Schools and Dumfries & Galloway Schools PFI projects asset sales” for the hold-up.

“The timing of these completions means that the associated profit will not now fall in the 2011/12 year,” the company added, causing its results for the year to be “commensurately lower than market expectations”.

Nonetheless, the firm added that both transactions are now close to being completed.

It also said that the firm’s underlying trading performance remains “encouraging”.

This page was last updated on:
21 May 2015.

thumb

Rocky road ahead

The UK General Election may not have produced the stability investors would have hoped for – even with a Conservative majority

thumb

Funding Netherlands

Could the Dutch PPP market be the one that never grows old, Amanda Nicholls asks the Ministry of Finance’s PPP Coordinator Erik Jan Snik

register

Register now to get un-restricted access to all sections of the website.

Want to see more first? Try our free preview...