Interim Management Statement

12/04/2010
 
Interim Management Statement

AssetCo plc
(“AssetCo” or “the Company”)

AssetCo plc (AIM:ASTO), the specialist Fire and Rescue services provider is pleased to give the following update on trading.

Despite the difficult overall economic environment, the Board is confident that current market expectations will be met for the full year ending 31 March 2010.
 
The Company has continued to reposition its activities as a pure support services business. In March 2010, the company announced a transformational agreement for a three year contract to provide a fully outsourced fire fighting service by His Highness General Sheikh Mohammed Bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and the Deputy Supreme Commander of the UAE Armed Forces. The value of the contract is for an initial £40m and positions the Company well for future growth internationally.

This award followed on from the earlier selection of AssetCo as joint venture partner with the Abu Dhabi Government for the development of an Emergency Services training facility, Disaster City.

In the UK, the Company remains well positioned to continue to increase the level of services it provides to the London Fire Brigade as was demonstrated by the award of the seven year CapitalGuard contract in August 2009 for the provision of 700 reserve firefighters.

In line with the Company’s strategy to generate all revenues as a support services business, all other activities have been exited or are being divested.


Enquiries:

AssetCo plc                                               +44 (0) 20 8515 3999 
John Shannon, Chief Executive Officer
James Collins, Investor Relations   
   
Arden Partners plc                                    +44 (0)20 7614 5932
Richard Day   
Adrian Trimmings   
   
Pelham Bell Pottinger                                +44 (0) 20 7337 1500    
Alex Walters      
Francesca Tuckett