Key Allco results due for release
Troubled financial services group Allco has further delayed the release of its half-year results, which were scheduled to be released to the Australian Securities Exchange (ASX) today.
In a brief announcement released to the ASX this morning, the company said it would not be releasing its interim results, shares would remain in voluntary suspension and that the market would be updated in due course.
It represents the second delay in making the half-year announcement.
While the half-year results are expected to reveal a reasonably stable balance sheet, most interest is expected to focus on the company’s outlook amid continuing questions about its debt position in the face of a generally tightening liquidity environment.
The company is understood to have received informal bids from a number of major players including Macquarie Bank and Babcock and Brown for specific parts of the business.
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Mike Taylor
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