Allen PLC
1 June 2000
Allen Plc ('Allen')
(Hire Services, Housebuilding, Civil Engineering Contracting,
Building Contracting)
SPEEDY SCAFFOLDING DISPOSAL FOR £2.1 MILLION
Allen, the construction services group, announces that it has
sold Speedy Scaffolding Limited ('Speedy Scaffolding') to the
management team for £2.1 million. In the year ended 28 March
1999, Speedy Scaffolding made a profit before tax of £293,000
on turnover of £3.16 million.
Ken Fox, the Chief Executive, said:
'Speedy Scaffolding is a small regional sub-contractor for the
supply and erection of scaffolding to the building industry.
The Board felt that it was not a core activity within the
expanding Hire Services Division. The disposal is, therefore,
in line with our strategy of focusing our resources in the
sectors of the business where we can see the best returns on
our investment and maximise shareholder value.
'In thanking the management and the employees of Speedy
Scaffolding for their contribution over the years, we wish
them every success in the future.'
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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