Fraud allegations hit TWL figures

THE Weather Lottery has announced it will take a £30,000 hit to its figures connected to criminal charges brought against two former employees.

TWL’s results for the year to the end of July, published earlier this month, revealed the company had made a pre-tax loss of £77,000 compared to £48,000 in the previous 12 months.

Those figures included £80,000 in provisions made in connection with allegations of fraud and theft levelled at Keith Milhench, a former director of the company, and Amie Pickersgill-Smith.

However, the company said this morning it would not have to make a further provision of £30,000.

TWL will include the figure in its interim results for the period to the end of January but said today that if it had been included in its year-end accounts the loss for the year would have been £107,000 and the loss per share 0.1p.