Sweett sells Scots schools stake
26 July 2012
Sweett Group has finally managed to sell its interest in a Scottish schools project, one of two transactions that forced the firm to delay its results for the year to 31 March 2012.
The consultancy has completed the sale of its Inverclyde Schools PFI Project to investor Equitix, but said the £850,000 profit before tax will be attributed to next year’s results.
Earlier this month, Sweett announced it would not be selling its Dumfries and Galloway PFI project as anticipated, but would instead seek “an alternative disposal structure”.
The firm remains confident it can dispose of the asset in the current financial year, and reported the sale of both would boost the firm’s profit before tax for 2012/13 by £1.5m.
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