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Keyword results: internal controls

Cake Box – full-year accounts now also have a ‘technical compliance issue’!...

Specialist retailer of cream cakes Cake Box (CBOX) has announced it will publish full-year results on 27th June following an end of year audit process which has raised “an issue” in terms of the Companies Act 2006 and past dividend payments. Hmmm!


Renold – accounting over-statements “broadly consistent with the guidance”. Or are they?

Renold (RNO) describes itself as “a global leader in the manufacture of industrial chains and also manufactures a range of torque transmission products which are sold throughout the world to a broad range of original equipment manufacturers and distributors. The company has a well-deserved reputation for quality that is recognised worldwide”. Certainly, that has not proven the case with its financials at least – it last month postponing its AGM after “the identification of historical accounting issues over the three years ending 31 March 2017, 2018 and 2019… immediately initiated an independent investigation”. Now “Completion of investigation”


Earthport – Chairman & former CEO retire “with immediate effect” just last week… Now “accounting errors”!

Shares in payment network company Earthport (EPO) had already more than halved in price over the last year and now a “Restatement of Fair Value Adjustments” announcement – and they currently down a further nearly 9%, to 7p, in response…


Utilitywise – it was wise to red flag, as (Utility)unwise energy consumption projections see the shares crash

Previously writing on Utilitywise (UTW), I concluded continue to avoid as the shares recovered a bit from sub 130p - Flattery from the company for Brendan, but will he be able to rectify the red flags ahoy? There is today a “Projected under-consumption of energy contracts” announcement – and the shares are currently crashing below 80p…

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