Bad Debt

RNS Number : 0874H

Alumasc Group PLC

23 May 2011

 



For release 23 May 2011

THE ALUMASC GROUP PLC - ANNOUNCEMENT

Subsequent to the release of its Interim Management Statement last week, The Alumasc Group plc (ALU:L) was informed that a customer of the group's Façades business has unexpectedly been taken into administration by its bankers.

Current estimates are that the impact of the consequential bad debt on group results for the year could be in the range £0.3 million to £0.5 million, depending on possible recoveries of materials and any payment to creditors from the administrators.

The Board does not consider that this event should affect its recommendation on the group dividend for the year.

Enquiries:

The Alumasc Group plc

Paul Hooper (Group Chief Executive)                                       Tel:  [phone]

Andrew Magson (Group Finance Director)                               Tel:  [phone]

Bankside Consultants

Simon Bloomfield                                                                     Tel: [phone]

 

END

 

 

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