VANTIS (VTS).

Investors Chronicle, July, 2006

These results were delayed for two days by a squabble between Vantis and Ernst & Young, its new auditors, over revenue recognition and exceptional charges. The result was that the numbers came in narrowly below forecasts. Even before the disagreement, though, exceptionals were more than expected because of the cost of integrating Numerica, an accountancy firm bought last year. But chief executive Paul Jackson says that the unexpectedly good IT benefits of the deal compensated for the extra charges.

And, ignoring all this deal-making and its consequences, underlying revenues actually rose by 14 per cent. Business recovery and tax advice were the stars of the show, and both areas should grow further this year as Vantis cross-sells these high-margin consultancy...

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