How much revenue will Quindell book for Industrial Deafness work this year? And how much cash will it earn. The answer according to its own house broker Canaccord is £228.4 million (well over 25% of group sales) and er….zippo. This begs incredibly serious questions about the revenue recognition policies of Quindell in this new, Quindell untested, area.
The Canaccord note – which you can view here until we give into Canaccord bullying and take it down – covers this issue on page 25. Its historic and forecast numbers are on a quarterly basis summarised below
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