International Public Partnerships still doesn't expect significant hit from Carillion
Source - SMW
International Public Partnerships reiterated that it didn't expect the liquidation of Carillion to have a significant valuation impact on the company.
Since January 14, the company said it had made good progress on the transition of projects managed by Carillion to alternative providers and continued to expect that to occur on similar terms to its existing contracts.
'While the company expects to incur modest transaction costs it does not currently anticipate any significant consequential valuation or cashflow impact,' it sad.
'While such transfers are not yet completed, the company currently anticipates that the impact of these items is likely to be less than £1.5m -- before any offset applicable in respect of funds held by the company that are owed to Carillion.'
A £1.5m impact on net asset valuation equated to around one tenth of a penny per share, International Public Partnerships said.
At 3:09pm: (LON:INPP) International Public Partnership Ltd share price was -1.3p at 145.9p