PMP plans sale, leaseback of properties to generate at least A$75M

Mon, 27 Aug 2012

Aug. 27 (BusinessDesk) - PMP, the printing and magazine distribution company, plans to sell and lease back properties in Australia and New Zealand to generate at least A$75 million of cash after posting a wider full-year loss. The deals are to be completed in the second half of 2013, with the majority of funds to be used to repay debt, the ASX-listed company said in a statement. It has gained sign off from its banks for the plans. Sydney-based PMP posted a net loss of A$24.5 million in the 12 months ended June 30, up from a loss of A$11.3 m...

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