Gurjit Degun
2 days ago

M&C Saatchi shares crash 40% after US$15.2 million adjustment to results

Investigation into accounting errors by PwC also found 2018 half-year reported profit was adjusted by about $8.3 million.

Kershaw: predicts stronger trading performance in 2020

MC Saatchi’s shares crashed by more than 40% Wednesday morning after it was forced to make adjustments of 11.6 million US$15.2 million to its results following an investigation into accounting errors.

The business first revealed the mistake over the summer and appointed PwC to carry out an independent review, which also found that there are errors dating back to 2014.

Following the review, adjustments of 11.6 million...

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