Construction supplier launches ‘rigorous review’ after overstatement of cash
Construction supplier SIG has "initiated a rigorous review" after it revealed historical cash overstatements in its previous accounts.
Figures released for the periods ending December 2016 and June 2017 inadvertently inflated its cash position by up to £27m.
This meant its headline financial leverage figures were lower than they should have been - for example in June 2017 it reported 1.6x when it should have been 1.9x.
The Sheffield company is targeting a leverage range of 1.0x-1.5x this year and has a medium-term target of ... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
