Coastline Retail Group Ltd
LISTED APPAREL AND FOOTWEAR · US$240M REVENUE
A listed household name of nine decades, banked by a four-bank club of which this bank holds US$15m of US$40m. Profit up 9% in a soft consumer year; cash conversion down from 131% to 83%. Three accounting footnotes explain most of the difference.
Coastline Retail Group Ltd is a fictional construction. The figures, relationships and decisions on this page are illustrative — built for teaching, not drawn from any real borrower or transaction.
// WHAT WAS ASKED
- Club facility
- US$40m across 4 banks
- Our share
- US$15m
- Ask
- Renewal, plus consent to lift the dividend
- Payout policy
- 60% to 75% proposed
- NPAT (reported)
- US$14.2m, up 9%
- Operating cash flow
- US$11.8m, down 31%
- Cash conversion
- 83%, from 131%
- Provision release
- US$3.2m, credited to profit
- Dividend ask
- 75% payout, from 60%
// WHAT THE BANK DID
Renewed, and the dividend consent declined — with a cure rather than a refusal: cash conversion above 90% for two consecutive half-years, then the conversation reopens.
The reasoning is in the file itself — the four options that were on the table, how readers answered, and the senior banker's read of the same numbers.
// READ FROM OTHER CHAIRS
The same file, and the same week, from the chairs of the people on the other side of it.
Nothing further is recorded here about Coastline Retail Group. This record holds published files only — when the business next appears in an issue, its entry grows.