The company reported a pre-tax loss of £228.2m but still saw its share price shoot up 70% after the company announced it had secured funding for the company until mid-July.
Many had expected the company to be suspended for the stock exchange after losing several major clients during the year, including Allied Domeq and warnings from the company that it may not be able to reach the deadline for reporting its annual results.
The reported results contained a warning from the company’s auditors, KPMG, that due to an ongoing strategic review at the company, it had only seen limited evidence for the purpose of the audit. It was therefore ‘unable to form an opinion as to whether the financial statements give a true and fair view of the state of affairs of the company’.
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