Allen PLC
19 June 2000
Allen Plc ('Allen')
(Hire Services, Housebuilding, Civil Engineering Contracting,
Building Contracting)
SHEET PILING (UK) DISPOSAL FOR £1.2 MILLION
Allen, the construction services group, announces that it has
sold its 82.5% shareholding in Sheet Piling (UK) to its
management for £1.2 million.
In the year ended 2 April 2000, Sheet Piling (UK) made a
profit before tax of £203,000 on turnover of £4.53 million.
Allen's share of the pre-tax profit was £167,000. Net assets
attributable to Allen at that date were £1,097,000.
Ken Fox, the Chief Executive, said:
'Sheet Piling (UK) was a non-core activity. The disposal is
another important step in our stated objective of focusing
both management resources and capital investment in businesses
where we believe that we can obtain the best return for our
shareholders.
'We wish the management continued success.'
For further information:
Ken Fox (Chief Executive) 01204 699277
Neil O'Brien (Finance Director) 01204 699277
Brian Coleman-Smith 020 7786 9600
Binns & Co Public Relations
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