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CORRECTED-Quindell publishes delayed 2014 results, reports loss (Aug 5)

Published 06/08/2015, 05:45 pm
CORRECTED-Quindell publishes delayed 2014 results, reports loss (Aug 5)
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(Corrects Aug. 5 story to say trading in company's shares was halted on June 24, not June 29 in paragraph 2)

Aug 5 (Reuters) - Quindell Plc QPP.L , a technology and outsourcing company, reported a loss of 238 million pounds ($372 million) as it finally published its annual report for 2014 that was delayed due to accounting issues.

Quindell is being investigated by Britain's Financial Conduct Authority over statements related to its accounts for 2013 and 2014. Trading in its shares was halted on June 24, pending the publication of the 2014 annual report.

The company has also faced questions over its revenue model and profit quality. Its chairman quit over a controversial stock deal last year. ID:nL3N0ZA2O6

Quindell also said on Wednesday it expected to appoint a new chief executive and begin a review of the business. ID:nRSE1746Va ID:nRSE1847Va

The company forecast revenue to remain largely flat in 2015. It reported revenue of 72 million pounds for 2014.

Quindell said it has requested for the suspension on its shares to be lifted on Aug 6. ($1 = 0.6398 pounds)

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