Aug 12, 2020

Sports Direct owner Frasers delays annual accounts again

The release of annual results at Mike Ashley's Frasers Group - formerly Sports Direct - have been delayed for the second year running. "In a statement to the Stock Exchange, the company said:"It is now anticipated that the company's full year results for the period ending 26th April 2020 will be published on 20th August 2020. The company blamed the delay on "Final IFRS 16 disclosures still being completed and reviewed". The company's 2019 results were delayed by a week and then subject to continuous delays before finally being released more than 10 hours late and after the stock market had closed. Mr Ashley was forced to write to the then business secretary, Andrea Leadsom, to explain the difficulties in finding a suitable adviser to check the firm's annual accounts.

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