Jul 26, 2019

Sports Direct shares fall as results delayed again

Shares in Sports Direct fell by about 2 per cent in early trade amid a further delay to the release of its full-year results to the end of April. At 8.40am, the company issued a brief statement saying that it was "Still finalising our preliminary results". The company had been due to host a briefing for analysts and investors at its London headquarters, starting at 9.30am. The company, controlled by controversial billionaire Mike Ashley, had already postponed its results by more than a week, blaming the complexity of consolidating the numbers from House of Fraser, the department store group it acquired last year, and increased scrutiny of audits. "I've seen companies delay by 10 or 15 minutes for technical reasons, but nothing like this."

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