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(Alliance News) - International Public Partnerships Ltd said Wednesday it will delay 2019 results following the guidance given by UK regulators.
The infrastructure investment company said it is in a position to release its annual results, but the UK Financial Conduct Authority asked for a moratorium on results amid the Covid-19 pandemic.
The FCA, which regulates the financial services industry in the UK, at the weekend had made the request to companies due to produce preliminary financial statements in the next few days to delay publication. The watchdog had urged all listed companies to observe a moratorium on the publication of preliminary financial statements for at least two weeks.
The UK's Financial Reporting Council on Monday supported the FCA's request and had said the basis on which companies are reporting and planning was changing rapidly due to the virus spread.
Instead, IPP will issue a market update on Thursday, when its 2019 results were scheduled for release. The annual results will be released at the "earliest possible alternative date," IPP said.
Shares in IPP were 4.3% higher in London on Wednesday morning at 161.40 pence each.
By Paul McGowan; paulmcgowan@alliancenews.com
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