Support services group, Amey, is set to reveal details of a sweeping write-down plan later today.
The writedowns and provisions are expected to be at least £60m, consuming most of Amey's profits.
Acting finance director Eric Tracey said the write-downs were non-cash charges, and that a strong trading position should continue.
Amey is believed to expect the statement will provide shareholders with a clear view on its financial state.
Amey is expecting the provision in conjuntion with a deal with the Tube Lines consortium, will allow it to rengotiate its loan arrangements.
Its banks had to bail out Amey after the uncertainty over its finances made renewing a letter of credit for its £60m investment too expensive.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
