Apr 20, 2020
UK start-up stimulus too small to do more than bridge gaps
More innovative is his plan to set up the Future Fund, which will direct £500m through the government's British Business Bank to deserving causes. For years it amounted to little more than a pension deficit and debt pile with some UK kitchen cupboard brands attached. Sales were up more than 10 per cent in March, Premier's year-end. More fundamentally, Premier has finally got a grip on its pension problem. The net present value of Premier's deficit contributions could fall by 45 per cent to between £175m and £185m. Before Monday's 20 per cent share price bump, the group's market cap was only £230m. Its debt situation has improved, too.
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