Ainscough Crane Hire's parent posts £70m loss
6th July 2012
THE parent company of Ainscough Crane Hire suffered a £70m loss on falling sales of £97.5m in 2011, according to newly-filed accounts.Sales fell by 11% in the year to May 31 (2010: £109.7m), which the Wigan-based company blamed on "challenging" trading conditions.The loss was largely due to an exceptional writedown of £50m relating to the goodwill value of the company. A further £27.7m charge related to interest on its debt pile, which stood at £306.3m by its year end.Ainscough Crane Hire was bou......for the full story register now for free or login below...
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