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At least 20%
of FTSE100 companies are unlikely to be able to eliminate their pension deficits
over a realistic timeframe, a report by accountants KPMG claims.
The firm said the companies would struggle to close the gap between liabilities
and assets from free cashflow within the next decade.
KPMG surveyed 66 FTSE100 groups, excluding financial services companies, and
found that although half the groups could pay off deficits with cash within a
year, at least 14 lacked sufficient cash and were in the 'alarming situation of
never being able to pay off their deficits'.
Utility companies, with their high capital expenditure demands and regulatory
constraints, would be the most vulnerable.
Source:
RedAlert
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