Harry Potter printer unearths accounting errors

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Printing firm St Ives has discovered "serious accounting errors" in its point-of-sale division. The company, which prints the internationally successful Harry Potter books, said the mistakes mean its profits for the year ended 28 July 2006 would be approximately 2.8m lower than original market expectations. In a statement, St Ives said the errors resulted from costs not being properly expensed, an over-evaluation of work in progress and unrecoverable debtors.

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