The building services group said that 鈥渇rom initial investigations, it would appear that funds in excess of 拢2.8m have been misappropriated by an employee over a number of years鈥�. 聽
T Clarke said it has 鈥渢aken appropriate action鈥�, including the appointment of professional advisers to assist with its investigations and recover the stolen funds.
It added: 鈥淚nvestigations indicate that the incident is limited to DG Robston and does not impact the wider T Clarke Group. Our findings to date suggest that if anything the group's historic trading results and balance sheet net worth may be understated to the extent that any of the misappropriated funds are recoverable.聽
鈥淭he board believes that any necessary accounting adjustments in the current period are unlikely to have a material adverse effect on the group's results taken as a whole and, overall, the group remains on track to meet market expectations for the year.鈥�
As part of a planned reorganisation, the operations of DG Robson are being transferred to T Clarke鈥檚 main London M&E business where 鈥渁dditional control measures鈥� are in place. T Clarke said this process will now be accelerated and DG Robson's operations will be fully integrated into the London M&E business by the end of this year.
T Clarke said it would provide a further update in its next planned trading statement on 17 November 2016.
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