AssetCo sees dip in profits

ASSETCO, the outsourced fire and rescue services provider, said first half pre-tax profit
fell by £200,000 to £3.4m, compared to six months earlier.

But it said it expected its contract with the United Arab Emirates to contribute to improve revenues in the second half of the year.

Sales grew by four per cent to £17.1m from £16.5m in the six months to the end of September.

Net debt also rose from £75.7m to £77.1m in the period, AssetCo said, adding it was asking banks to release cash from its asset financing.