Interserve confirms talks with lenders
By Oliver Haill
Date: Monday 16 Oct 2017
(ShareCast News) - Interserve on Monday said that it is "engaged in constructive and ongoing discussions with its lenders", confirming rumours that had been mooted in the media.
"Work is underway to provide greater clarity on Interserve's current trading and Energy from Waste provision," the company said, referrring to September's profit warning.
Last month, shares in the support services and construction group plummeted after it warned the full year outturn would be "significantly below" its previous expectations following disappointing trading in July and August.
Interserve said the anticipated timing and complexities of exiting its energy-from-waste contracts mean finals costs are now likely to be a lot higher than the £160m initially expected.
In February, Interserve upped its estimate on the cost of exiting the energy from waste business from £70m to £160m.
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