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MARKET REPORT - BLEAK FUTURE AS AMEY CUTS VALUE

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Struggling support services firm Amey is slashing£85m from the value of its assets following a report to the board...
Struggling support services firm Amey is slashing£85m from the value of its assets following a report to the board by the acting group finance director.

Eric Tracey, who took over as finance director after the departure of the previous finance director less than two months into the post, warned that results looked bleak because finances were likely to be hit by further delays to the part privatisation of London Underground.

The company's shares slumped 90% this year and operating profits are estimated to be around half those expected.
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