The Credential
Tunneys supported the group CFO of a c£400m UK Construction PLC, working with the FC and external advisors to rationalise historic accounting records and analysis into a robust forecast of the groups funding requirement and integrated financial model for presentation to the bank.
How We Helped
Prior to their engagement with Tunneys, ConstructionCo* was observing a material change to a long established working capital arrangement with a major customer and contract following a number of significant capital expenditures. The group enjoyed a strong portfolio of revenue channels however there was great uncertainty around their near to long term cash position amidst these recent changes.
Tunneys worked with the management team to clarify and collate information on the most material assets, liabilities and cashflow affecting activities from major revenue contracts down to taxation & IFRS matters. The data gathered formed a comprehensive view of the historic, present and forecast financial position for the consolidated group. Subsequently Tunneys collaborated with external advisors to establish a robust view of the funding requirement for presentation to the bank.
Value Delivered
Translating and consolidating existing accounting records and analysis into a clear and detailed view of historic and forecast financials;
Providing an operating model for the group to monitor, forecast and manage performance and obligations under bank covenants;
Enabling management and external advisors to test and understand sensitivities to different scenarios and options when deciding upon the most appropriate debt schedule to take.
* all client names have been kept confidential.
