StockMarketWire.com - Associated British Engineering narrowed its first-half, but detailed plans to reorganise its main operating subsidiary, British Polar Engines, in the wake modest sales growth.

For the six months ended 30 September, pre-tax losses were narrowed to £179K from £349K on-year, led by increased turnover from British Polar Engines to £557K from 490K.

'It is a disappointment that the sales increase was modest and as a result and following these results the board have instituted a round of reorganisation and rationalisation within the various arms of the business,' the company said.

At 9:58am: [LON:ASBE] Associated British Engineering PLC share price was 0p at 14401.1p



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