UB Group please to announce further support to the group from our shareholder.
The UB group has received further support in conversion of its short term finance into longer term debt by its parent showing further belief in the company’s new management team.
Since August 2018 the team led by CY Wilkinson the new CEO has made considerable headway in turning around the UB Group , Cy Wilkinson was brough in to replace the old management team.
Cy has considerable experience in addressing the issues faced by struggling companies and over the last few years including the extremely difficult 2020 caused by the COVID -19 seen an improvement in the group metrics. This effort has been supported by the groups parent Hampden Holdings Limited by converting a short term expensive debt schedule into a longer term repayment schedule improving both cash outlay and interest cover.
The group is now forecasting a profitable 2021 and significant growth in turnover across a widening customer base and product offering.