Debt recovery group Collection House yesterday evening revealed it was writing off $19 million from assets and profit had dropped by more than half.
Shares in the Brisbane-based company, employing more than 630 people, have been released from suspension.
They were suspended on February 7 as Collection House tried to flesh out the result that became a half-year net profit of $3 million, down from the $7.3 million achieved 12 months earlier.
The figures hit the market almost two hours after the bell, a strategy sometimes used to avoid the glare of negative publicity.
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