PracticeAuditPension liabilities hit Johnston Press profits

Pension liabilities hit Johnston Press profits

Johnston Press' profits would have been £7m lower had it reported under new standards for 2004.

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.

Link: Decisions – Benefit schemes – the right carrot

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.

Related Articles

PwC replaces EY as Domino's auditor

Audit PwC replaces EY as Domino's auditor

5d Alia Shoaib, Reporter
The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

Audit The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

2w Carl Johnson, Stephensons
BDO holds off Big Four to retain top position as AIM auditor

Audit BDO holds off Big Four to retain top position as AIM auditor

2w Alia Shoaib, Reporter
FRC urged to fine Big Four firms penalties over £10m

Audit FRC urged to fine Big Four firms penalties over £10m

3w Alia Shoaib, Reporter
EY to audit Standard Chartered bank

Audit EY to audit Standard Chartered bank

1m Alia Shoaib, Reporter
KPMG replaces PwC as Croda auditor

Accounting Firms KPMG replaces PwC as Croda auditor

2m Emma Smith, Managing Editor
EY fined £1.8m over Tech Data audit

Accounting Standards EY fined £1.8m over Tech Data audit

2m Emma Smith, Managing Editor
Top 50+50: Firms post significant growth in new tax and audit rankings

Audit Top 50+50: Firms post significant growth in new tax and audit rankings

2m Emma Smith, Managing Editor