7th Jul 2015 06:56
LONDON (Alliance News) - Kitchens and joinery products supplier Howden Joinery Group PLC on Tuesday said it has reached an agreement with the trustees of its defined-benefit pension scheme on the schedule of payments to fund the scheme's deficit.
FTSE 250-listed Howden said the deal will mean it will continue to make deficit contributions of around GBP35 million per year for the 27 months from April 5, 2015 to June 30, 2017.
The agreement will result in an expected cash contribution to the deficit in the current financial year to the end of December of GBP45 million.
By Sam Unsted; [email protected]; @SamUAtAlliance
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