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Sports Direct delays results, cites House of Fraser integration, audit focus

Sports Direct has delayed publication of the company’s preliminary results for the period ended 28 April 2019. The company says the reasons or the delay are the complexities of the integration into the company of the House of Fraser business, and the current uncertainty as to the future trading performance of this business. Sports Direct also cited increased regulatory scrutiny of auditors and audits including the FRC review of Grant Thornton's audit of the financial statements of Sports Direct for the period ended 29 April 2018.

These factors have led to a requirement for the company to compile more information than in previous years for the audit of period ended 28 April 2019, and has therefore impacted on preparations for and responses to increased challenges in connection with this audit.

Grant Thornton has also required additional time to complete its audit work for the period ended 28 April 2019 leading to the delay in the publication of the company's preliminary results announcement.

The numbers had been due on 18 July 2019. Sports Direct says results will likely be published between 26 July 2019 and 23 August 2019. Sports Direct said it believes its accounts and their audit to be at an advanced stage.

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