Profits fall at audit and stocktaking specialist

Audit and stocktaking specialists Capcon Holdings have warned investors that the earnings for the six months to March 31 2005 will be ‘significantly below’ expectations.

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The company, which also offers commercial investigation services, said that despite trading close to forecast in its audit and stock taking arm, earnings were expected to be down because of volatility in its investigations work and restructuring costs associated with insurance investigator Capcon Vincent Sherman.

The company said it expected to ‘reap significant returns on the costs incurred’ from the restructuring.

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