Shares in an agricultural and engineering group have been suspended after the publication of its full-year results were delayed.
Carlisle-headquartered Carr's Group, which was founded in 1831, had been expected to have posted its results for the 12 months to September 3, 2022, by January 3, 2023.
However, the listed group missed the deadline and its shares were suspended from 7.30am this morning [January 4].
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In a statement to the London Stock Exchange, the group said it will "continue to work closely" with its auditor, Grant Thornton, "to ensure that the FY22 Results are published as soon as possible".
Carr's Group added that it will request the trading of its shares to resume once the results have been published.
It also said its unaudited performance for FY22 "was in line with its expectations and ahead of the prior year".
A statement said: "As announced on 22 November 2022, following a thorough exploration of all options for completing a second audit of Carrs Billington Agriculture (Operations) Limited in order for the company's auditors, Grant Thornton UK LLP ("GT"), to be satisfied that the Financial Reporting Council's independence requirements would be met, the company and GT concluded that it would not be possible for the company to publish its audited financial statements for FY22 by 3 January 2023.
"As, under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, the company is required to publish its audited FY22 Results by 3 January 2023, the company confirms that it has now requested, and received confirmation from the FCA, that the listing of the company's ordinary shares of 2.5 pence each will be temporarily suspended with effect from 7.30am on 4 January 2023."
Shares in Carr's Group closed at 121.5p each at the end of January 3.
In April 2022, the group confirmed that its revenue totalled £222.7m for the six months to February 26 while its pre-tax profits were £9.5m.
For the 12 months to August 28, 2021, its revenue was £417.3m and its pre-tax profits were £12.1m.
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