Sureserve pays down NatWest facility by a further £4m
Sureserve Group
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Compliance and energy support services group Sureserve announced on Wednesday that, shortly before the end of its financial year ended 30 September, it paid down a further £4m of its revolving credit facility to NatWest Bank, adding that it was currently utilising a total of £10m.
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The AIM-traded firm said that as a result, net financial debt at year-end was now expected to be around £7.6m.
In addition, since the financial year ended, the group received £0.93m in relation to the sale of Orchard Energy to World Fuel Services by way of final settlement of the deal consideration.
“Continuing from our recent trading update, I am very pleased with our cash management whilst at the same time the group is in a strong place to continue to build a profitable platform for future growth,” said Sureserve executive chairman Bob Holt.
“I look forward to bringing you news of further successes for the group.”