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SuperGroup faces probe after maths blunder

SuperGroup faces a regulatory investigation following its “arithmetic error” which led to its shares crashing by nearly 40%.

The UK Listing Authority, part of the Financial Services Authority, is considering whether to probe the clothing group, which warned on Friday that it would have to cut its full-year pre-tax profit by £7.5m because of a maths error - where a plus sign was entered rather than a minus - of its wholesale business.

A probe would focus on whether the error was a genuine mistake or deliberate, according to the Daily Mail.

SuperGroup, which owns clothing brand Superdry and retailer Cult, said on Friday that “there have been arithmetic errors in our forecast of the wholesale business amounting to some £2.5m”.

The miscalculation marked the company’s second profit warning since it floated in 2010.

The FSA declined to comment.

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  • Mistake or Fraud? You decide...

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