Last checked at 30 May 2014 12:59
For immediate release 30th May 2014
ASSOCIATED BRITISH ENGINEERING PLC
Trading Update for the year to 31st 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 31st 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