October 16, 2017 / 8:06 AM / a month ago

UK's Interserve in talks with banks after profit warning

Oct 16 (Reuters) - British support services and construction company Interserve Plc said on Monday it is in talks with its banks to provide clarity on its current trading and recent profit warning.

The statement follows a Sky News report on Sunday that Interserve's lenders, including HSBC and Royal Bank of Scotland, have hired EY as an adviser last week.(bit.ly/2gdwqFN)

The company said that work is underway to “provide greater clarity” on Interserve’s current trading and waste-from-energy provision.

On Sept. 18 Interserve said the “complexities of completion” meant final costs associated with its exit from the waste-to-energy business would exceed a previous 160 million pound ($213 million) provision.

HSBC, RBS and EY could not immediately be reached for a comment.

Interserve shares fell 4.3 percent by in opening trading.

$1 = 0.7530 pounds Reporting by Arathy S Nair and Parikshit Mishra in Bengaluru; Editing by Louise Heavens

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