CSG reviews businesses
10 September 2012
Corporate Services Group is weighing up the benefits of keeping all of its businesses, according to its statement of interim results released last week.
Corporate Services Group is weighing up the benefits of keeping all of its businesses, according to its statement of interim results released last week. The decision to review its current businesses accompanied an acknowledgement that it needs to reduce its debts, which increased from £52.7m in December 2006 to £55.3m in the six months ended 30 June 2007.
In spite of the high debt, CSG's results improved from previous reports, with increased turnover of £273.8m and a profit before tax of £200,000, a movement up from June 2006's £1.4m loss.
Also included: independent forensic accountants have recommended measures to "tighten controls" after the "incorrect accounting" of rebates within CSG's vendor neutral procurement business Comensura.
In spite of the high debt, CSG's results improved from previous reports, with increased turnover of £273.8m and a profit before tax of £200,000, a movement up from June 2006's £1.4m loss.
Also included: independent forensic accountants have recommended measures to "tighten controls" after the "incorrect accounting" of rebates within CSG's vendor neutral procurement business Comensura.
