3423 days ago
I am asked by a reader to speculate on what the PWC Report into Quindell (QPP) will say? I guess that the bean counters are almost done by now so IMHO here is what to expect.
First up PWC will look at accruals, largely for industrial deafness. That income is not coming in as expected – hence the statement about Q4 cashflows. At the H1 stage accruals were in at £308 million and that number would have risen in Q3 and I suspect that in a kitchen sink job as this will be it will all be written off. So let’s call that a £350 million write-down.
Trade receivables
