APR.L Share News (APR)

(ShareCast News) - Shares in APR Energy fell after the temporary power company said it expected to book higher costs on its project in Angola.At 1555 BST shares in the AIM listed stock were down by 7.8% to 82.75%.In an update ahead its first half results, APR said after a review of receivables, the company had made a further provision primarily for its ongoing project in Angola."The group is working closely with its customer and is confident in its ability to recover its receivables as demonstrated by a successful track record of collections in very difficult environments such as Yemen and Libya," the company said in the update.The firm said while it had removed most of its assets from its terminated Libya projects, it also anticipated rising costs in relation to collecting $10.7m in debts owed there.APR said it had received full payment of $8.4m for its terminated project in Yemen, which would reverse its previously recorded provision for it.The company had also gained access to Yemen project sites enabling it to revaluate a $24m impairment taken in the second quarter due where it not been allowed in previously.