StockMarketWire.com - Stock broker Fiske said it had understated its net assets to the tune of £0.53m.

The error arose through a change in an accounting process, which affected the way in which data from the company's systems was interpreted, Fiske said.

The sum represented about 7% of reported net assets as at 31 May 2019.

It had accumulated over a period from April 2016 due primarily to an over accrual of creditors and provisions.

There was no impact on the company's cash position or on its clients' money or asset positions.

Fiske's results for the year through May 2019 would be restated so that its loss for the year would be reduced by about £0.26m.


At 1:58pm: [LON:FKE] Fiske PLC share price was 0p at 59p



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