18th Sep 2013 09:57
LONDON (Alliance News) - Norcros PLC, the home consumer products supplier, Wednesday said that it has entered into an agreement with Network Rail Infrastructure Limited, to sub-let its vacant legacy leasehold property at Groundwell in Swindon, until the end of December 2018.
The company said that the sub-lease will reduce its net cash outflow on the legacy leases by roughly GBP4.0 million, over the five year period starting from April 1 next year. It also said that there was no exceptional income statement charge or credit as a result of entering the agreement.
Norcros shares were trading at 19.41 pence per share mid morning Wednesday, up 2.1% or 0.41 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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