Consultant previously indicated sale was key for firm to meet profit expectations

Sweett Group has agreed to extend the completion date for the sale of its PFI stake in Dumfries & Galloway Schools, in a move it previously indicated could see its profit for the year ended 31 March fall short of market expectations.

The consultant said in a trading statement today it had agreed to extend the completion date for the sale of its PFI stake in Dumfries & Galloway Schools.

Sweett indicated in a trading statement last month that the group’s profit would only be in line with market expectations if disposal of the asset was completed as expected.

It said: “The Group’s profit before amortisation and exceptional administrative expenses for the year to 31 March 2012 is expected to be in line with market expectations, provided that the previously-announced Inverclyde and Dumfries & Galloway Schools investment disposals are successfully completed as expected.”

The consultant fell into the red in its first half result to the end of September 2011 after posting a loss of £100,000 for the period.

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