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Construction industry holds auditors accountable for Carillion collapse

The construction industry views the collapse of Carillion as a result of aggressive accounting policies and a close relationship with KPMG. A survey of the supply chain conducted by public sector procurement specialist, Scape Group, finds that 93 per cent ...

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ISS reports strong organic growth in Q1 2019

ISS has seen its revenue increase by 4.9 % in Q1 2019 (Q4 2018: 0.5%), which its reports was mainly due to organic growth, and a marginally positive currency effect, partly offset by negative net impact from acquisitions and divestments ...

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FRC opens investigation into Interserve financial statements

UK audit watchdog, the Financial Reporting Council (FRC) has commenced an investigation into the audit by Grant Thornton UK LLP of the financial statements of Interserve Plc for the years ended 31 December 2015, 2016 and 2017. The investigation will ...

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Sodexo reports encouraging growth in first-half Fiscal 2019

Sodexo has published its results for the first half of Fiscal 2019, reporting a slightly better than expected growth in organic revenue at just over three per cent, with growth accelerating in all segments, and in Benefits & Rewards Services. ...

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Another robust year at Wilson Vale

Wilson Vale’s audited year-end results (31 December 2018) show that turnover has increased by 11 per cent in 2018 in line with projections to just under £34 million, with profitability up also. According to the Ashby-based catering firm, a number ...

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Mitie’s order book softens in FY 18/19 but optimism remains for future growth

Mitie has published a pre-close statement on the Group’s expected performance for the fiscal year ending 31 March 2019 (FY 18/19), subject to final audit, ahead of reporting full-year 18/19 results on 6 June 2019. Figures exclude the discontinued operations ...

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Wates reports increased profits and record order book

Family-owned construction, development and property services company, Wates Group, has reported increased profits for the year ending 31 December 2018, with a record order book of £5.4 billion heading into 2019. Turnover for 2018 was within one per cent of ...

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Diamond Facilities marks ninth straight year of growth

Diamond Facilities Support Group has achieved its ninth consecutive year of growth in turnover. The Birmingham-based facilities management firm, generated £9.5 million of turnover in the 2018/9 financial year – a £1 million increase on the previous year. It follows ...

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Vacherin reports another year of growth

London-based hospitality specialist, Vacherin, has announced that in its second full year under a new management structure, turnover increased by 33 per cent to £26.2 million, far exceeding the predicted 20 per cent. It has also added eight new contracts to ...

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Interserve results better than expected as deleveraging plan gets underway

Services provider Interserve published a slightly strong set of full year results than expected, for although revenues declined to 10.7 per cent to £2,904.0 million, this compares favourably to 2017 which saw a loss of £244 million; while its operating ...

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