IFRS hits Wellington for £700k
Lloyd's insurer Wellington Underwriting has restated net income for the 2004 year of account, after applying international financial reporting standards.
The company's profits have now been reported as £59m, a reduction of £700 000 on the figures detailed in March.IFRS is being adopted by around 7000 public companies across the European Union toOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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