Profits at Johnston Press would have been around £7 million lower had new International Financial Reporting Standards been in place last year, the group said today.
In its annual results, the group said that its requirement to present its pension liabilities under the new rules would have meant a charge to the profit and loss account of £5.9 million.
New profit and loss account charges in respect of employee share awards and benefits based on their fair value would have meant an additional charge of £1.1 million, it said.
The group announced profits of £150 million before tax for 2004.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Investment in people, tech and businesses impacts on EY's profit per partner figure
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned