Print Published 21st Sep 2018, 21:25

Engine still losing money after unexplained impairment charge

Engine Acquisition, the company set up to acquire Engine Group in 2014 on behalf of the US private equity fund Lake Capital Partners II, incurred a group loss of £5.5 million in 2017.

Revenue and gross income were little changed, but any prospect of profit was wiped out by a combination of a £5.6 million impairment charge and finance costs of £4 million.