Extension to Publication of Annual Report

RNS Number : 7138Q

Harland & Wolff Group Holdings PLC

29 June 2022

 

This announcement contains inside information

29 June 2022

Harland & Wolff Group Holdings plc

("Harland & Wolff" or the "Company")

Extension to Publication of Annual Report and Accounts

Harland & Wolff Group Holdings plc (AIM: HARL) confirms that AIM Regulation has granted the Company an extension to the publication date of its audited annual report and accounts for the 17-month period ended 31 December 2021 ("FY 21 Accounts"). The extension permits publication up until 30 September 2022, although the Company expects that it will publish the FY 21 Accounts well in advance of this date. This additional period is in view of the adverse impact of COVID-19 on the audit and annual report finalisation process.

The Company's auditors have been clearing a large backlog of work that built up during the previous lockdown and immediately thereafter. The audit work relating to the FY 21 Accounts was divided into smaller segments and smaller audit teams based on staff availability, so that the auditor could accommodate its clients in as timely a fashion as possible. This has resulted in delays to the completion of the audit process and accordingly the publication of the annual report. In order to ensure a timely update to the market of the company's financial results, Harland and Wolff published preliminary unaudited results in April 2022. The Company is now in the final stages of completion and attaining the various approvals required from the auditors. The Company confirms that the financial information published in the unaudited preliminary results is not expected to differ from that contained within FY 21 Accounts.

The Company will make a further announcement in due course as soon as the FY 21 Accounts are published.  

For further information, please visit  www.harland-wolff.com  or contact:

Harland & Wolff Group Holdings plc John Wood, Chief Executive Officer Seena Shah, Head of Marketing & Communications	[phone] [e-mail]   [e-mail]
Cenkos Securities plc (Nominated Adviser & Broker) Stephen Keys / Callum Davidson / Dan Hodkinson (Corporate Finance) Michael Johnson (Sales)	[phone]

About Harland & Wolff

Harland & Wolff is a multisite fabrication company, operating in the maritime and offshore industry through five markets: commercial, cruise and ferry, defence, energy and renewables and six services: technical services, fabrication and construction, decommissioning, repair and maintenance, in-service support and conversion.

Its Belfast yard is one of Europe's largest heavy engineering facilities, with deep water access, two of Europe's largest drydocks, ample quayside and vast fabrication halls. As a result of the acquisition of Harland & Wolff (Appledore) in August 2020, the company has been able to capitalise on opportunities at both ends of the ship-repair and shipbuilding markets where there will be significant demand.

In February 2021, the company acquired the assets of two Scottish-based yards along the east and west coasts. Now known as Harland & Wolff (Methil) and Harland & Wolff (Arnish), these facilities will focus on fabrication work within the renewables, energy and defence sectors.

In addition to Harland & Wolff, it owns the Islandmagee gas storage project, which is expected to provide 25% of the UK's natural gas storage capacity and to benefit the Northern Irish economy as a whole when completed.

 

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