Allco management have warned that the troubled finance company could post a loss of more than $1.5 billion dollars for its full year results. A combination of restructuring costs, a write-down of goodwill and the selling of assets at below carrying values have been blamed for the size of the loss. The news is not all bad though with the confirmation that Allco's lenders have agreed to a 30-day extension for its bridge and senior debt facilities. Shares in the company dipped 15 cents to 90 cents on heavy trading following the announcement.
