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Chairman Roger Best denied that Blackhurst’s departure was due to the group’s poor set of half-year results, released yesterday, which saw losses climb to £5.64m for the six months to 31 July 2003.
‘Malcolm is not a scapegoat,’ said Best, who described the departure of Blackhurst as amicable, the FT reported.
‘Negotiations regarding a new group finance director are at an advanced stage and an announcement will be made shortly,’ the company said.
Blackhurst will remain at the company until a replacement is recruited.
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