SUR Sureserve Group Plc

TIDMSUR

RNS Number : 7763Q

Sureserve Group PLC

23 October 2019

Sureserve Group plc

("Sureserve" or the "Group")

Net debt position

Sureserve, the Compliance and Energy Support Services Group, announces that shortly before the end of the financial year to 30 September 2019, the Company paid down a further GBP4m of the Revolving Credit Facility to NatWest Bank and is currently utilising a total of GBP10m. As a result, net financial debt at 30 September 2019 is now expected to be approximately GBP7.6 million.

In addition, post the year end, the Group received GBP930k in relation to the sale of Orchard Energy to World Fuel Services Limited by way of final settlement of the deal consideration.

Bob Holt, Executive Chairman, said: "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. I look forward to bringing you news of further successes for the Group."

Enquiries

 
Sureserve                             Financial Public Relations 
Bob Holt, Chairman, 07778 798816      Camarco 
Peter Smith, Chief Financial Officer  Ginny Pulbrook 
Telephone: 020 3961 5210              Ollie Head 
                                       Telephone: 020 3757 4992 
 
 
 
  Shore Capital 
Antonio Bossi 
 Mark Brown 
 
Telephone: 020 7408 4050 
 

Notes to editors

Sureserve is a leading compliance and energy support services group that performs critical functions in homes, public and commercial buildings, with a focus on clients in the UK public sector and regulated markets. Services are delivered through two divisions: Compliance and Energy Services.

The Group was founded in 1988 and is headquartered in Basildon. It currently employs some 2,000 staff from 23 offices across the UK.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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October 23, 2019 02:00 ET (06:00 GMT)

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