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
1 minute read
The original version of this story was published on Legalweek
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.
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