United Finance plc - ‘COVID-19’ Market Update

On 13 April 2020, United Finance plc issued an announcement explaining that the ‘COVID-19’ pandemic is expected to have a significant negative impact on the operations and performance of the United Group throughout 2020. In this respect, a number of cost containment measures have been put in place to mitigate the effects of a drop in revenue and non-contracted capital expenditure plans have also been cancelled.

The Group also noted that although 2020 is expected to be a challenging year, United Finance plc has sufficient funds to meet its obligations as they fall due, including the full payment of interest in early November 2020 on the 5.3% bonds maturing in 2023. The Group also reiterated that it remains vigilant on the developments with a view of taking more measures as may be appropriate to ensure the viability of its business.

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