Findel FY profit reduced by £6m after review

21st Jun 2010 08:42

Home shopping firm Findel said full year profit will be reduced by over £6m after it found accounting errors in its education division. "The review of the Education Division completed by new divisional management in conjunction with the Company's auditors has led to a revision of the estimates provided in the announcement on 29 March 2010," Findel said in a company statement today.While pre-tax profit for the year ended 3 April 3 will be reduced by £6.4m, net assets will be reduced by £20.6m. No material issues have been identified in any of its other divisions following the review by KPMG, Findel added.