WHSmith has pushed back its annual results for the second time as it faces continued fallout from its accounting errors.
The travel retailer revealed that its results, which were due to be reported on 16 December, would be delayed until 19 December to give its auditor PwC “further time to complete the required audit procedures”.
The move comes after WHSmith pushed back the date of its results in October. They were originally due to be reported on 12 November.
In November, the company’s CEO Carl Cowling stepped down from his role following a report by Deloitte that confirmed the accounting errors.
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WHSmith first reported accounting issues in August. The brand slashed its full-year forecasts for its US arm at the time and called in an independent auditor after it said it had discovered “an overstatement” in the unit’s trading profits.
An independent review by Deloitte in November identified a number of “shortcomings” as the business overstated profits in its US arm by up to £50m.
The retail giant cautioned that it forecasts profits in its US arm within the range of £5m and £15m for its delayed annual results.
WHSmith initially expected profits of £55m in the US business, before revising the figure down to £25m when the accounting problem was first identified.
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