Support services group postpones interim results announcement until end of September to verify account irregularities at its industrial services business
Troubled support services group, Interserve has pushed back the announcement of its interim results to the end of September as it grapples with the accounting irregularities at its industrial services business.
The company said in a statement: “Following the announcement of a review of accounting mis-statements in its industrial services division, Interserve is postponing the announcement of its interim results in order to allow time to verify the adjustments needed.”
Interserve was expected to announce its interim results on 4th September. The company new expects the release will be closer to the end of September.
Interserve suspended six staff and its shares tumbled after is discovered the accounting irregularities. The support services group believes correcting the issue will mean a £25m reduction in net assets in the group’s half-year results.
Accountants, KPMG and law firm, Linklaters are carrying out an independent review of the accounts.
