Superdry PLC (LSE:SDRY) shares were suspended today as the fashion clothing group said its results have been delayed by work with its auditor RSM to complete the final technical points of its accounts.
Normal procedures are taking longer than anticipated, it said, as this is the first year that RSM has audited the company.
The results, for the year to 30 April 2023, are expected to be announced later this week when trading in the shares will also be restored, the statement added.
Superdry has endured a tough couple of months with a profit warning in April followed earlier this month by an emergency £25 million loan from restructuring firm Hilco and the sale of Asia Pacific assets for £34 million.
Broker Peel Hunt said it expected a loss of £16.5 million on a "broadly flat" sales base and its key focus when the results are released "will be on the level of cost saving put in place and how quickly this will benefit FY24".
With poor weather conditions over July and August, analysts said the first quarter of the new financial year "is unlikely to have set the new year off to a strong start".