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Tag Archives: financial

FRC provides update on Carillion investigation

UK audit watchdog, the Financial Reporting Council (FRC) has provided an update into its investigation of the collapse of construction giant Carillion last January following “significant public interest” in the case. The FRC is investigating KPMG’s audits of Carillion (2014-2017) and ...

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Carillion ‘ripped off suppliers’ finds damning Parliamentary report

Carillion used its suppliers to “prop up a failing business model” is the damning conclusion of two influential Parliamentary committees, which ahead of the launch of the final report of their inquiry into the collapse of Carillion has published evidence ...

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Facilicom’s profits grow

Facilicom Cleaning Services has reported a growth of 17 per cent on the previous year, takings its turnover to £37.5 million – almost doubling its net profit in both percentage and monetary terms. Record results were achieved by the company’s ...

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Financial impact of recent floods could last two-three years

As the Environment Agency today warns that the flood risk will continue into the weekend*, Justin Balcombe, UK head of general insurance consulting at KPMG warns of the long-term cost of flooding to businesses, homeowners and the economy and discusses ...

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Mitie capitalises on new business but not new brand!

Mitie has woken up this morning feeling totally reenergised and inspired as it announces a new makeover of the MITIE brand including a welcome (from a journalistic point of view) drop of the capitalisation of its name. Along with the ...

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AXA UK appoints new group property director

Deborah Parker has joined the operations team at global financial services firm, AXA UK, as group property director. There, she will take up responsibility for the group real estate function encompassing asset and facilities management. Parker is a Fellow of the Royal ...

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ISS announces solid organic growth & new chair as Ole Anderson steps down

International cleaning, FM and support services provider, ISS has delivered on its promise of good organic growth for 2013. Revenue in the first half of 2013 for the outsourced service provider was DKK 39.6 billion (approx £4.54 billion) which was driven ...

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Interserve posts record half-year revenues of over £1billion

International support services and construction group, Interserve has boasted a strong performance with its support services division boosting revenues to over £1 billion for the six months to 30 June 2013 in ‘mixed market’ conditions.   The record revenues of £1,068.2m ...

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Mears turns FM acquisition Morrisons’ fortunes around

Mears Group PLC, the support services group to the social housing and care sectors has announced a 15% increase in profits despite £6.5 million costs associated with its acquisition and subsequent restructuring of struggling firm, Morrison Facilities Services. Prior to ...

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Focus on quality at Norland delivers strong results

Norland, a private company and one of the UK and Ireland’s leading facilities management providers, has seen its revenues and profits jump by 23%. Norland’s audited accounts show turnover of £384 million for the year to April 2013 and profits ...

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