Shares in distribution company Umeco rose by 8% today after reports that it was planning to sell the aerospace supplier Pattonair for over £200 million. Analysts say that such a disposal would transform Umeco’s balance sheet from a £70 million net debt position to one with a healthy surplus. Umeco is believed to have hired NM Rothschild to sell the Derby-based company. Pattonair recorded pre-tax profits of £2.1 million in the year to 31 March 2010 on revenues of £33.6 million. Umeco shares have lagged of late driven lower by problems at Rolls Ryce and Boeing, the company will be
This content is restricted to site members.
If you are an existing user, please login below.
New users may register below.