Thursday 7 October 2010

CEC fails to lodge of the annual accounts

Local Cairns construction giant CEC, remains suspended, following failing to lodge annual accounts.

This is surprising, as they managed to get preliminary results in on time for a change.

The CEC Group informed the market that it will not lodge its annual accounts for the year ended 30 June 2010, being a third delay.

The company said it envisaged lodging by 4 October and subsequently 6 October, however it failed to lodge by today.

"The company continues to be finalising its position on a critical accounting issue that impacts on the completion of its financial statements for the year ended 30 June 2010," a statement from company secretary Allan Widdows, said today.

"The company is making every effort to resolve this issue in an expedient manner and remains conscious of its continuous disclosure obligations. It is anticipated that the Annual Accounts will be lodged on or before Monday, 11 October 2010."

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