(Alliance News) - ECO Animal Health Group PLC on Monday said it expects trading in its shares to be suspended in January due to a delay in the publication of its results for its most recently-ended financial year.
The pet and livestock pharmaceuticals company stated it initially intended to publish the results for its financial year ended March 31, 2020 before December 31, noting that while the audit progress on its accounts has been "good", continuing difficulties associated with remotely auditing its International operations and the need to audit prior year adjustments amid Covid-19 restrictions has added "substantial" logistical challenges.
As a result, in line with regulations, trading in it shares on the AIM Market of the London Stock Exchange will be suspended on January 4.
On a more positive note however, ECO Animal said the strong trading performance seen in the half-year ended September 30 has continued into November as it expressed confidence on meeting market expectations for its full year to March 31, 2021.
"The vastly enhanced scope of our financial 2020 audit and the nature of our global operations has made completing the audit work in pandemic conditions exceptionally challenging. We are, however, pleased that current trading remains strong and the board views the future with continued optimism," said Chief Financial Officer Chris Wilks.
Shares in ECO Animal were trading 16% lower at 230.00 pence each midday Monday in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Eco Animal (EAH)