DIARY: Cordiant explanations are totally over the top

Poor Cordiant. Fire sales, a collapsing share price, succumbing either to Sir Martin Sorrell or Carey Street. Now an outbreak of verbal diarrhoea. How else to explain this extract from Cordiant's document to shareholders about disposals.

"Since the directors have not yet brought their consideration of the various strategic options available to the Group to the stage where the implications for the Group's future funding structure and the extent and nature of any disposal programme to be put in place are sufficiently clear, the evidence available to us was limited and in consequence we were unable to carry out auditing procedures necessary to obtain adequate assurance regarding the Directors' assessment of the appropriateness of preparing the financial statements on a going concern basis."

Forget WPP. The Plain English Campaign should put in a bid.

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