BREAKING NEWS

BREAKING NEWS

UK's Interserve in talks with banks after profit warning

Now Reading:

UK's Interserve in talks with banks after profit warning

Text size Aa Aa

(Reuters) – British support services and construction company Interserve Plc <IRV.L> said on Monday it is in talks with its banks to provide clarity on its current trading and recent profit warning. The statement follows a Sky News report on Sunday that Interserve’s lenders, including HSBC and Royal Bank of Scotland, have hired EY as an adviser last week.(http://bit.ly/2gdwqFN) The company said that work is underway to “provide greater clarity” on Interserve’s current trading and waste-from-energy provision. On Sept. 18 Interserve said the “complexities of completion” meant final costs associated with its exit from the waste-to-energy business would exceed a previous 160 million pound provision. HSBC, RBS and EY could not immediately be reached for a comment. Interserve shares fell 4.3 percent by in opening trading.

(Reporting by Arathy S Nair and Parikshit Mishra in Bengaluru; Editing by Louise Heavens)
euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.