Carr’s Group PLC fell 3% to 109.5p after announcing there will be a delay to the publication of full-year results for the year ended 3 September 2022.
The agriculture and engineering group said in a trading update that the group has continued to perform strongly since it last informed the market on 5 August.
However, it has been determined that, for “independence reasons”, auditors Grant Thornton can no longer place reliance on an the audit undertaken by Mitchell Charlesworth, the statutory auditors of Carr's Group's associate company, Carrs Billington Agriculture (Operations) Limited (CBAO).
As a result, a separate audit of CBAO is required in order to complete the full-year 2022 audit process.