03 October 2003 12:00am

Public transport ticketing systems integrator ERG Group has come clean in its 2003 annual report, providing disclosure in considerable detail on various corners of its loss making business.

ERG's reported results deep in the red for four half year periods in a row, as the company faced up to questions over its accounting methods and dealt with the reality rather than the hype over when the company could count on revenues from the installation and operation of fare collection systems for public transport networks in some of the world's more forward looking cities.