Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

Alpha investigating fraud

30 January 2006
Alpha investigating fraud

Airline caterer Alpha Airports is investigating a fraud that it believes could have cost the company up to £2.5m.

In a trading statement it said: "It may result in a significant exceptional loss to the group. Initial investigations show the potential loss is in the order of £700,000 but it could be as high as £2.5m."

The company refused to give any further details on the nature of the crime.

In its statement, Alpha said that a poor first half, which saw profits fall 42% to £6.2m, was offset by a stronger second period in 2005.

It estimates that pre-tax profit for the year will be slightly above last year's £17.4m.

Group turnover is expected to be 12% ahead of last year's £497.2m.

By Tom Bill

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Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

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