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Servisair rebuffs Amey

SERVISAIR THIS week tried to fend off Amey's hostile £81.5M takeover bid with claims that it was in talks with 'other interested parties'.

On Monday Servisair reported a fall in 1998 pretax profits from £7M to £6M on turnover up from £162.3M to £181.8M.

Amey sought to undermine the results by questioning profit figures and asking the air support services company's board to reconcile claims of improved performance with the fall in pretax profits.

But Servisair repeated claims that it had won new business since

the loss of an American Airlines cargo handling contract and changes to a contract at Stockholm airport. Higher profits were expected in 1999.

Servisair shares fell 5.5p to 206.5p yesterday as investors' hopes of a rival bidder emerging faded. Amey offered 200p a share on 22 January but so far only 2.% of Servisair shareholders have indicated they will accept the bid.

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