Company Briefs

Innopac to report larger loss for FY2013

INNOPAC Holdings will report a larger loss in its audited group financial statements for FY2013 than was previously reported in preliminary results released in February, mainly due to additional provision for a derivative receivable transaction subsequent to the preliminary results. The group's loss will increase by about $34 million from that previously reported. The company said: "This provision will be written back if the obligations of the counterparty are fulfilled, and the company's profit will correspondingly increase by this amount." It earlier reported a net loss of $20.8 million for the year ended Dec 31, 2013.

ES Group's subsidiary wins orders worth $17m