Accounting provisions created during the Dark Ages
Provisions were created...
- £65.6m provisions taken in year end March 2001
- £10.4m provisions taken in the year end March 2002
- £13m provisions taken in the year end March 2003
And then found not to be needed...
- £53m provisions found not to be 'not needed' and released back to profits
- Year end March 2002 released provisions accounted for 68% of profits
- Year end March 2003 released provisions accounted for 30% of profits
- Year end March 2004 released provisions accounted for 25% of profits
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