Treasury Review Food Manufacturer, UK

Client Brief

A large UK Headquartered frozen foods manufacturer was preparing for its secondary sale. Although management and the financial sponsor were confident that the treasury function was being well-run, they were keen for PMC to perform a high-level review that might identify any concerns or opportunities for further development.

PMC Solution
  • Interview the Group Treasury Director and the CFO to understand the approach being taken in terms of activities, policies and reporting;
  • Perform a desk review of cash flow, risk management and covenant reporting;
  • Present findings in a formalized report.
Results & Recommendations

Our review concluded that most treasury practices were appropriate but that there were significant problems with its risk management approach. Highlighting these concerns and outlining recommendation to mitigate the risks gave both management and its financial sponsor considerable comfort.