BWX said the key parts of the audit issues - which have delayed the release of its accounts since August this year - have been finalised. This includes revenue recognition issues dating back to 2021,as well as the impairment of intangible assets from recent acquisitions,which includes 51.1 per cent of Foster Blake’s Go-To business for $89.9 million last year.
BWX said that CFO Efee Peell,has resigned with immediate effect to focus on health issues. It has appointed Birol Akdogan in an acting role until a permanent replacement is recruited.
The company’s shares last traded at 63c in August when it went into a trading halt as the group could not reach agreement with its auditors about its financial accounts.
BWX shares were dumped in July after it issued a downgrade and raised funds at a discount to its share price at the time to shore up its balance sheet.