"The disposal of our software business for €4 million allowed us to recover some of the monies advanced to the business in the year and showed a net credit of £0.8 million when compared to the half-year results in which we had provided fully against the business. Nevertheless, the net cash cost to the Group in 2008 (monies advanced less net sale proceeds) was £1.7 million. In addition, we repaid a related loan (2007: £1.6 million), so that the Group had no bank loans outstanding at the year-end."
I'll greatly appreciate it if anyone can decipher this; unfortunately I'm illiterate when it comes to financial jargon.
Thank-you. : )
OR how can I reduce it significantly into bite size information
I'll greatly appreciate it if anyone can decipher this; unfortunately I'm illiterate when it comes to financial jargon.
Thank-you. : )
OR how can I reduce it significantly into bite size information