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Article: WS Atkins is to sell off some of its stakes in PFI projects after last week's profits warning - which cost chief executive Robin Southwell his job - has left it in danger of breaching its banking covenants.
- Article from:
- Sunday Business (London, England)
- Article date:
- October 6, 2002
CopyrightCOPYRIGHT 2002 Sunday Business Publishing. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WS Atkins is to sell off some of its stakes in PFI projects after last weeks profits warning - which cost chief executive Robin Southwell his job - has left it in danger of breaching its banking covenants.
The company, whose shares crashed by 70% on the day of the profits warning, will reconsider the status of its ten PFI contracts and sell some of them to external bidders. It needs the money to pay back some of the pound sterling120m (E192m) net debt it has racked up through a combination of computer glitches and poor market conditions.
WS Atkins has to rethink its strategy after last weeks catastrophic announcement, which shocked the markets and led ...
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Article: Wallis joins WS Atkins.(Business)
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... ... support services group WS Atkins has appointed the former chief executive of Powergen as its new ... 64, was chairman and chief executive at Powergen between 1990 ... projects. Keith Clarke, chief executive of Atkins, said ...
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