UPDATE 1-Tomkins H1 profit hit by US impairment charge

Newswire

(adds CEO comments, reaction, share price) LONDON, July 31 (Reuters) - British engineer Tomkins has taken a $175.1 million impairment charge related to its exposure to weak U.S construction and automotive markets, resulting in a 79 percent fall in first-half pretax profit. Chief Executive James Nicol said its Stackpole power transmission business in the United States had been hit by customers deserting the light truck and SUV (sports utility vehicle) markets. "It's a one-time shot," he ...

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