May 23, 2024
Royal Mail Owner Pushes Back Results Over Audit Delays
Bloomberg News
,![A postman removes letters and parcels from his Royal Mail vehicle in London., Bloomberg A postman removes letters and parcels from his Royal Mail vehicle in London.](/polopoly_fs/1.2076639.1716475283!/fileimage/httpImage/image.jpg_gen/derivatives/landscape_620/a-postman-removes-letters-and-parcels-from-his-royal-mail-vehicle-in-london.jpg)
(Bloomberg) -- The owner of Britain’s Royal Mail has delayed reporting its financial results, days after welcoming a £3.5 billion ($4.5 billion) bid from Czech billionaire Daniel Kretinsky.
International Distributions Services Plc was due to report results for the year through March 31 on Thursday, but said in a statement that the group’s auditor, KPMG, requested additional time.
The company confirmed it expected adjusted operating profit to be broadly in line with previous guidance.
The delay comes after IDS said it was inclined to accept a non-binding takeover bid from Kretinsky’s EP Group, having rejected a previous offer worth £3.1 billion.
©2024 Bloomberg L.P.