DAC Beachcroft's bank loans nearly triple
Bank loans soar as it expands reach in Spain and Latin America while shelved IT project lands the firm with a £2.9m bill
January 29, 2015 at 03:23 PM
2 minute read
DAC Beachcroft's bank loans nearly tripled last year to finance the firm's "strategic growth plan", while its profit was dented by the multimillion-pound cost of an aborted IT project.
The firm's accounts, published at Companies House, showed the firm's total bank loans rose to £24m in the year to 30 April 2014 – nearly triple the £9m it had in loans the previous year.
The firm also reported a reduction in net debt to £30m, down from £39m.
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