Sports Direct shares fall as results delayed

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Sports Direct shares fall as results delayed
Master Investor Magazine

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FTSE 250 retail outlet Sports Direct International (LON:SPD) has announced that the publication of its annual results will be delayed due to the complexity of integrating the House of Fraser, uncertainty in its future performance, and increased auditing scrutiny. The company said that the increased scrutiny was not specific to their accounts but due to a changes at its auditor, but it did admit that there were some areas that could be materially different than previous guidance suggested.

The company’s takeover of GAME Digital was also confirmed today with a final mandatory cash offer and notice that GAME’s listing would be cancelled.

The price of Sports Direct shares dropped by 9.26% to 239p (as of 10:30 BST).

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