news soon27 Mar 2019 19:01
Group revenue for FY 2018 is expected to be approximately £80 million. The Group currently has in excess of £85 million of revenue contracted for FY 2019.
The Group held cash of £14.6 million at 31 December 2018, of which £3.5 million was held in short-term deposits. The Group continues to have no debt.
Yü Group also confirm that, alongside the review by the Group's Audit Committee of its governance processes it has also considered changing its external auditors. As a result, the Group has appointed RSM UK Audit LLP as new external auditors.
The Group will continue to undertake a detailed review of the 31 December 2018 balance sheet until finalisation of the FY 2018 annual accounts and audit, which is targeted to conclude in Q2 2019. The Board are particularly focussed on validating, to the extent reasonable post the balance sheet date, its detailed estimates on the level of bad debt provision, the recoverability of accrued income, and reviewing whether a prior period adjustment will be required.