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(Alliance News) - Aerospace, defence, and engineering firm Cohort PLC stressed Thursday there are no issues to be brought to the attention of shareholders despite a delay to the publication of results.
Cohort had originally planned to report the results for its year ended April 30 on July 2, but this has now been pushed back to July 23.
The delay comes as Cohort has decided to give more time for auditing after the acquisition of Chess Technologies in December 2018, as well as the introduction of a new accounting standard, IFRS 15.
"The board believes the delay in completing the audit does not reflect any issues concerning the underlying trading or economic position of the company," said Cohort.
"The board confirms it believes the group's financial performance for the financial year ended April 30 has been consistent with its expectations, including Chess since its acquisition," it continued.
"There are no matters in connection with the delay in completing the audit which, in the view of the board, need to be brought to the attention of shareholders."
Cohort shares were 2.8% lower in London on Thursday at midday at a price of 440.00 pence each.
