TIDM68TX TIDMIPEL
RNS Number : 7362Q
Corporate Services Group (The) Ltd
17 April 2009
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The Corporate Services Group Limited
17 April 2009
Impellam Group plc, the parent company of The Corporate Services Group Limited
released the following announcement on 16 April 2009.
Recruit Events Services Limited ("Events")
Impellam Group plc ("Impellam" or the "Group"), today announces that it has
commenced an investigation into the recovery of billed and unbilled receivables
within its wholly owned subsidiary, Recruit Events Services Limited. The
investigation is on-going and is anticipated to take at least another four weeks
to conclude. Accounting records are in the process of being re-created and it is
currently expected that the Group's pro forma earnings before tax has been
overstated by up to a total of GBP5.0 million across 2008 and prior years. It is
therefore anticipated that the Group's pro forma earnings before tax in 2008
will be materially below market expectations and that a material adjustment will
need to be made to the Group's pro forma earnings before tax in 2007. An update
on the investigation will be provided in due course.
The Group's preliminary results for the period ended 31 December 2008 will not
be announced until the investigation is complete.
For Further information please contact:
+----------------------------------------------+-------------------------+
| Impellam Group plc | |
+----------------------------------------------+-------------------------+
| Desmond Doyle - Group Chief Executive | Tel: 01582 692658 |
| Officer | |
+----------------------------------------------+-------------------------+
| Andrew Burchall - Group Finance Director | Tel: 01582 692658 |
+----------------------------------------------+-------------------------+
| | |
+----------------------------------------------+-------------------------+
| Cenkos Securities plc | |
+----------------------------------------------+-------------------------+
| Nicholas Wells | Tel: 020 7397 8900 |
+----------------------------------------------+-------------------------+
| Beth McKiernan | Tel: 020 7397 8900 |
+----------------------------------------------+-------------------------+
| | |
+----------------------------------------------+-------------------------+
| Threadneedle Communications | |
+----------------------------------------------+-------------------------+
| John Coles | Tel: 020 7653 9848 |
+----------------------------------------------+-------------------------+
| Josh Royston | Tel: 020 7653 9844 |
+----------------------------------------------+-------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
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