Veris considers selling off its facilities management division as part of review

SUPPORT services group, Veris — which earlier this week announced the sale of its loss-making storage and removals division — is investigating the possibility of selling its facilities management division, mainly comprising its Vector brand, as part of a wide reaching strategic review.

Veris — which also owns the property management company Irish Estates and a number of smaller support services companies both here and in Britain — yesterday warned shareholders that it will likely report a loss after tax of approximately e7 million for 2008, when it formally reports figures in early May.

The expected loss will be driven mainly by a once-off impairment charge of e11.2m relating to the write-down in value of the group’s moving and storage division.