Finney Is Back
Chris Jones
I took a quick look at the accounts and can actually see that 40% of the interest cost is just notional interest.90% at sub 3% was my understanding, but haven't dug further
Total of interest bearing loans = £851,448,000.
Total interest (including notional) = £50,240,000.
However if removing the notional interest then the actual interest paid was £29,742,000
Therefore actual interest rate is 3.5%.
That is up quite considerably on the previous year though when the interest rate was 2.97%. It was 2.6% the year before that so finance costs are clearly creeping up.