Findel Cuts FY09 Pretax Profit On Education Accounting Errors

21st Jun 2010 08:19

LONDON (Dow Jones)--U.K. home shopping and educational supplies company Findel PLC (FDL.LN) Monday cut the pretax profit results for fiscal 2009 after finding accounting errors in its education division. Findel said the errors are estimated to have reduced its pretax profit for the year ended April 3, 2009 by GBP6.4 million and net assets by GBP20.6 million. Previously, the company posted a pretax loss of GBP51.9 million for fiscal 2009. Findel said further details--including the impact on the results for years before the fiscal 2009--will be provided when it publishes its results for the year ended April 2, 2010. The company said that, following a review, there are no material issues in any of its other divisions. -By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; [email protected] (END) Dow Jones Newswires June 21, 2010 03:19 ET (07:19 GMT)