Trading Statement

RNS Number : 4835I

Associated British Engineering PLC

30 May 2014

 



For immediate release                                                                                         30^th May 2014

ASSOCIATED BRITISH ENGINEERING PLC

Trading Update for the year to 31^st March 2014.

The Board of Associated British Engineering Plc reports that British Polar Engines Ltd, its principal operating subsidiary is continuing to trade profitably but the out turn for the financial year ending 31^st March 2014 will be materially below budget.

Furthermore Akoris Trading Ltd, in which an investment was announced in January 2013 has yet to trade and the Board has resolved to write down the investment by £262,000. While a not insignificant sum it amounts to less than 10% of the net liquid assets available to the Group.

David Brown

Chairman

Contacts;

David Brown, Associated British Engineering PLC                       0044 781 418603

Colin Weinberg, Associated British Engineering PLC                    07836 588 504

Peter Morton, Associated British Engineering PLC                        01223 260022

 

END

 

 

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