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:
24 August 2017.

thumb

Time to be bold

PF2 projects are slowly bubbling to the surface, but will the market take the bait?

thumb

The Insurance Man

Darryl Murphy, head of debt investment at Aviva Investors discusses where he intends to take the organisation next

register

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

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