In its IMS for the period from July 1, the group says trading conditions remain challenging, although there are variations across markets.

'There remains a lack of confidence and liquidity in many areas in which we trade, but there are also some encouraging signs in respect of opportunities and new contract wins.'

Terms have been agreed with the group's lenders for a refinancing and capital restructuring. A circular is expected to be sent to shareholders in due course.

Story provided by Business Financial Newswire