AssetCo's profits to be at lower end

14th Apr 2009 07:23

Support services group AssetCo said its full-year results are expected to be at the lower end of market expectations.The company said its order book has been maintained at £600m and it continues to have a high degree of earnings visibility, thanks to its long term integrated service contracts, which are still growing.However, earnings visibility in the company's core base contract business is not as clear as has historically been the case in easier economic conditions. Nevertheless, the company believes that its cost cutting actions leave it well placed to benefit as and when economic conditions recover. In addition, the group has also made significant investment for the future in the Middle East.