Delay to publication of full year results (1006223)
March 25 2020 - 3:00AM
UK Regulatory
Global Ports Holding PLC (GPH)
Delay to publication of full year results
25-March-2020 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Global Ports Holding Plc
Delay to publication of full year results
Global Ports Holding Plc ("GPH" or "the Company"), the world's largest
independent cruise port operator, announces that the publication of the
Company's full year results for the year ended 31 December 2019 will be
delayed until April 2020.
This decision has been made following the request by the Financial Conduct
Authority for all public companies to delay making preliminary announcements
as a result of the on-going COVID-19 developments and the unprecedented
practical challenges that this is creating for the financial reporting
industry.
Since our trading statement on the 11th March 2020, the global cruise
industry has been impacted by further travel restrictions globally and
cruise itineraries have now effectively been cancelled for a number of weeks
or months. In recent weeks our Commercial port operations have continued to
trade in line with management expectations.
Providing financial guidance for the year ending 31 December 2020 is
impossible in the current environment pending further certainty over the
length and extent of the current circumstances. While there is a high level
of uncertainty over the trading outlook for 2020, the Board and Senior
Management are implementing wide ranging cost savings and balance sheet
protection measures. The inherent flexibility in GPH's business model,
including the extensive use of outsourced service providers, means that many
of our costs expand and contract in line with cruise traffic.
Our port teams around the world continue to work with cruise lines and the
relevant authorities to provide assistance and support to cruise ships and
cruise passengers who have been impacted by the quickly evolving travel
restrictions that have resulted from this global crisis.
CONTACT
For investor, analyst and For trade media enquiries:
financial media enquiries:
Global Ports Holding, Investor Global Ports Holding
Relations
Martin Brown, Investor Ceylan Erzi
Relations Director
Telephone: +44 (0) 7947 163 687 Telephone: + +90 212 244 44 40
Email: Email:
martinb@globalportsholding.com ceylane@globalportsholding.com
ISIN: GB00BD2ZT390
Category Code: TST
TIDM: GPH
Sequence No.: 54442
EQS News ID: 1006223
End of Announcement EQS News Service
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