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Park Group swaps KPMG for E&Y as auditor

Voucher and pre-pay business succeeds KPMG with Ernst & Young as auditors

25 Feb 2013 Accountancy Age

By Rachael Singh

ernst-young

ERNST & YOUNG has succeeded KPMG as auditor of gift saving company Park Group.

KPMG Audit Plc resigned as the company's auditor and has confirmed there are no circumstances in connection with its resignation which it considers need to be brought to the attention of the company's members or creditors.

A statement from Park Group said: The directors of the company would like to thank KPMG Audit for the service provided to the company in the past."

For the six months ending 30 September 2012 Park's revenues increased 2% to £46.9m from £46m for the same period a year ago. The company also announced that pre-tax loss improved to £4.1m from £4.4m compared to 2011. However, Park Group is seasonally focused and it traditionally makes a loss in the first half of the year with the bulk of revenues generated in the second half.  

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