Landscaping and construction company Marshalls has said that the collapse of Independent Insurance will wipe over £1m off its profit before interest for 2001.
In a trading statement, the company said "the write off of pre-paid insurance premiums and irrecoverable insurance claims of nearly £1m" would reduce the increase in its profit on ordinary activities before interest.
However, it said that despite this, it expected to report full year results significantly up on the figure for 2000, and in line with market expectations.
Marshalls said it ended the year with sales of £328m, 10% ahead of 2000.
