AdBri investigating 'hidden' underpayments

Construction products group Adelaide Brighton says it is investigating losses caused by possibly "deliberately hidden" underpayments by customers.

Cement and masonry group Adelaide Brighton is investigating the possible involvement of an employee in a series of underpayments the company says may have been deliberately hidden.

Forensic accountants have been called in to look into discrepancies relating to a small number of customers underpaying for products supplied to them "over a sustained period", Adelaide Brighton informed the ASX on Monday.

The company said there may be a negative impact on 2016/17 earnings of up to $14 million, less any amounts recovered.


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Source: AAP


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