Business
Full Year Results Deferral and COVID-19 Update
Full Year Results Deferral and COVID-19 Update.
About this update from Dp Poland Plc
[{"type":"text","content":"\n \n \n RNS Number : 9593H\n DP Poland PLC\n 30 March 2020\n \n \n \n \n \n \nDP Poland plc\n \n \n \n \n \n (\"DP Poland\" or \"the Group\")\n \n \n \n \n \n \n \n \n \n \n \n Change to full year results date and COVID-19 update\n \n \n \n \n \n \n \n \n Delay to full year results due to FCA moratorium\n \n \n \n \n \n DPP announces that, whilst the Board had declared an intention to announce the Group's audited results for the year ended 31 December 2019 on 31 March 2020, it has decided to delay the announcement after considering guidance recently issued by the Financial Conduct Authority and the Financial Reporting Council. The Board has also discussed this matter with the Group's advisers.\n \n \n \n \n \n The original reporting date falls within the two-week moratorium recommended by both bodies and the Group will, therefore, report no earlier than 6 April 2020. We are choosing not to set a revised announcement date at this time, mindful that any new commitment could be impacted by further regulatory guidance. We will commit to a new date as soon as the regulatory background becomes clearer.\n \n \n \n \n \n In line with our announcement on 7 February 2020, the Board expects to report full year results for the year ended 31 December 2019 in line with management expectations: System Sales up 13% to approximately PLN 81m and 3% like-for-like growth in System Sales 2019 over 2018. Cash at bank as at 31 December 2019 was £3.6m; control of cash and costs remain key areas of focus for the Group.\n \n \n \n \n \n Given the delay to the audited full year results and the increased uncertainty created by the spread of COVID-19, the Group today provides an update on its operational response, current trading and outlook.\n \n \n \n \n \n COVID-19 response, current trading and outlook\n \n \n \n \n \n Trading in 2020 started broadly in line with management's expectations for the full year, with only minimal impact from COVID-19 in the first two months of 2020. \n \n \n With effect from Saturday, 14 March 2020, the Polish government imposed similar 'lock down' restrictions to those now prevailing in the UK, including confining people to their homes except for essential activities (including food shopping, dog-walking, going to work and taking care of elderly r...