Hunting plc (2010)
Notes to the Financial Statements [extract]
25. Cash and Cash Equivalents [extract]
30. Financial Risk Factors [extract]
(b) Interest rate risk [extract]
The Group needs to ensure that sufficient liquid funds are available to support its working capital and capital expenditure requirements and to fund acquisitions. During the year, cash was, therefore, invested by the treasury function in AAA rated, instant access Money Market Funds and in fixed-rate bank deposits, with terms of between overnight and four months. As the funds were invested for short periods of time, the interest yield on these was relatively low. However, the preservation of the Group”s net cash took priority over earning high interest yields.