A STOCK-EXCHANGE-LISTED property developer has recouped £200,000 from a total of £1.7m that was stolen from the business.
Safeland, issuing its interims for the period to 30 September 2012, revealed that it has recouped a proportion of the funds that it discovered missing back in October. It had previously noted that it expects to recover a total of £700,000 of what was then a figure of £1.5m missing. The further half a million pounds should be recouped before the end of the financial year.
It reported a profit of £104,000 for the period, while £1.2m of the missing funds will relate to the 31 March 2012 year end, with the balance in the current financial year.
Its 2012 numbers have been restated to reflect the misappropriation.
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