Laing O’Rourke has agreed a refinancing deal for its Australian operation and is “progressing well” with similar talks over its UK contracting business.
O’Rourke has been in detailed discussions with its lenders since revealing a £63.4m pre-tax loss in March for its latest accounts for 2016/17.
O’Rourke has now completed a deal for Australia and is understood to be in the final stages of talks for the UK.
A Laing O’Rourke spokesperson said, ‘The Group is progressing well with its various refinancing discussions in Australia and the UK.
“The Australia Hub refinancing was completed on July 27 and is the first step in the financial processes of the broader Group.
“Our lenders continue their strong support of the business and the significant operational improvements delivered over the past two trading periods.
“We are trading in line with our expectations and previous public forecasts for FY19 and anticipate that our results for the financial year ending 31 March 2018 (FY18) will confirm significant further progress against the Group’s key performance indicators.’
from Construction Enquirer http://www.constructionenquirer.com/2018/07/30/orourke-completes-refinancing-of-australian-business/
via Tumblr http://ndbasilica.tumblr.com/post/176434954554
No comments:
Post a Comment