Tuesday 09 August 2016 by William Arnold Company updates

CML confirms sale of non core payroll business

CML has previously highlighted its intent to sell its ‘non core’ businesses

Last Thursday, CML confirmed that the sale of its payroll business, Lester Associates has now completed.

The sale will deliver to CML approximately $3.5m in cash, of which $1.8m is goodwill.

The sale is positive as it simplifies the company and allows capital and management time to be focused towards CML’s core finance business.

CML’s media release is available here.External link - opens in a new window