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NEWS 23 March 2020

888 to delay full-year results due to coronavirus, after FCA request

By Iqbal Johal

888 Holdings will delay publishing its full-year results for 2019 following a request by the Financial Conduct Authority (FCA) for all businesses to observe a two-week postponement, due to the coronavirus outbreak.

The operator was due to publish its results for last year up to 31 December ,on Tuesday 24 March, but will announce a new date in due course, based on further guidance from the FCA.

On Sunday, the FCA authorised all companies listed on the main market of the London Stock Exchange to observe a moratorium of publication, lasting a minimum of two weeks.

The FCA said this was due to the affect of the coronavirus, which has so far caused more than 16,000 deaths from nearly 367,000 worldwide cases. On Friday, UK Prime Minister Boris Johnson ordered pubs, nightclubs, restaurants and cafes to be closed until further notice.

In a statement, the FCA said: "The unprecedented events of the last couple of weeks mean the basis on which companies are reporting and planning is changing rapidly.

"In addition, listed companies and the audit profession are facing unprecedented practical challenges during the coronavirus crisis.

"The FCA believes the practice of issuing preliminary financial statements in advance of the full audited financial statements is adding unnecessarily to the pressure on companies and the audit profession at this moment.”

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