Home Business News Sports Direct forced to delay results – here’s why

Sports Direct forced to delay results – here’s why

by LLB Reporter
15th Jul 19 8:27 am

Sports Direct, owned by billionaire Mike Ashley, has delayed its results due to question marks around trading performance of its House of Fraser chain.

It comes as its auditor Grant Thornton faces scrutiny over its auditing. The results were due on Thursday and are now expected to by published on 23 August.

Other companies’ audits were also taking longer, Sports Direct said.

In December, when it published its half-year results, it said that, excluding House of Fraser, it expected operating profits to grow by between 5% and 15%.

But in its latest update, Sports Direct said: “There are a number of key areas to conclude on which could materially affect the guidance given in Sports Direct announcement of 13 December”.

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