Kazera Global delays publication of FY results

(Sharecast News) - Investment firm Kazera Global has delayed the publication of its full-year results by up to three months, citing the impact of the Covid-19 pandemic across its geographies.

Kazera said on Friday that it had been granted the additional time, with the group now having until 31 March 2022 to publish its annual report and accounts for the year ended 30 June, rather than by 31 December as previously required.

The AIM-listed group stated the delay comes about as a result of Covid impacting on the ability of the auditors to access all required information on a timely basis. However, despite the "logistical challenges" presented by the coronavirus, the audit process was currently being finalised.

Kazera now expects to release its full-year results during February 2022.

In terms of recent trading, Kazera added that it had "a number of operational issues to overcome" in 2021 but, despite obstacles, it said it had "progressed promisingly" throughout the year and was now successfully processing diamonds in accordance with its original business plan.

In December Kazera sold over ZAR 1.0m (£47,686) worth of diamonds and anticipates "ongoing significant revenue" from both its diamond and Tantalum operations in 2022.

As of 0930 GMT, Kazera shares had sunk 19.04% to 0.95p.