Coral Products (GB:CRU) has released an update.
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Coral Products plc has successfully executed a sale and leaseback deal for their Runcorn factory site, fetching £1.21m and entering into a 15-year lease agreement with Sandyford Properties Ltd. This strategic move has not only infused £0.5m in extra cash after clearing a property loan but also aims to lower the company’s gearing by 10%. Additionally, CEO Lance Burn’s initiative to streamline operations is set to further optimize the company’s workspace and enhance operational efficiency.
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