Troubled Mouchel sells rail business

摘要

Mouchel Group plc announced on October 19 that it had agreed to sell its rail business to Sinclair Knight Merz for £3-4m in cash. Providing multi-disciplinary design, consultancy and project management services for civil and structural engineering, signalling and permanent way, Mouchel Rail has 107 staff based in London and Manchester. Mouchel Rail reported a 'post-exceptional' profit before tax of £0-8m on net revenue of £13-6m in the year to July 31 2010. As of January 31 2011, gross assets subject to the disposal were 'negligible'.