11th Jun 2021 14:44
Kin & Carta PLC - London-based business consultancy firm - Says US government confirms final portion of loan forgiveness. Says company accessed GBP6.7 million of pay-check protection program loans last summer to alleviate the effect of the pandemic and maintain its US workforce. Receives forgiveness totalling GBP4.5 million in pay-check protection program loans in 2021. Says GBP800,000 in loan forgiveness recognised as income in the first half of the company's financial year up to January 31. On Friday, confirms remaining GBP3.7 million to be recognised as income in the second half of the company's financial year ending 31 July. Notes remaining loan balance of GBP1.8 million after forgiveness and foreign currency revaluation will be repaid in May 2022.
Current stock price: 193.50 pence, down 0.3% on Friday
Year-to-date change: up 36%
By Scarlett Butler; [email protected]
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