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Atkins reports Metronet losses

Atkins alerted the City today to expect a £36M exceptional loss in relation to Underground maintenance contractor Metronet Enterprises when its results for the year to the end of March 2007 are announced in June.
In its trading statement Atkins said with respect to Metronet Enterpises: 'The continued delays in and higher than anticipated costs of the capital programme, combined with uncertainties around the recoverability of additional costs, leads the Board to expect that an exceptional loss before tax of approximately £36M will be included in the group's results for the year ended 31 March 2007.'The Metronet Enterprise exceptional loss will be reflected in the group's joint ventures - Metronet and Trans4M and the group's business segments.Overall the Atkins group has performed well, the trading statement said. Profit before tax and exceptional items is anticipated to be significantly ahead of expectations.

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