A small business energy supplier is under investigation by financial regulators over the accuracy of its disclosures before the surprise announcement of a £10 million hole in its profit forecasts. Yu Group said the Financial Conduct Authority intended to “review the accuracy” of its announcements between March 6, the date of its last annual results, and October 24, when its shares plunged by 80 per cent on the profit warning. Shares in the company, which is listed on London’s Aim market, fell by a further 27 per cent yesterday to close at 78½p, down from 580p the day before the October announcement.
Times 20th Dec 2018 read more »