Hostmore PLC (LSE:MORE) shares fell over 9% after the hospitality group announced a delay to the publication of its annual results as talks with its banks remain ongoing.
It also updated on current trading, saying revenues so far this year are flat compared with last year.
In a statement, the owner of the Fridays restaurant chain said the discussions with its lending banks to amend its existing facilities are “progressing well” and are expected to conclude in the first half of April.
Hostmore, which had previously said its results for the year to 1 January 2023 would be released on 16 March, said a new publication date will be confirmed in due course.
In addition, it said it will provide an update on its amended banking facilities alongside the results.
Commenting on current trading, Hostmore said VAT-adjusted revenues for the first nine weeks of the current 2023 fiscal year that are similar to 2022's comparable revenues, while related EBITDA and cash flows are in line with current market expectations for the full year.
Hostmore shares declined 9.2% to 12.52p in morning trade.