Frasers Group delays release of annual results for third time in four years

Group controlled by Mike Ashley blames logjam in audit industry but expects pre-tax profits between 300m and 350m

Frasers Group, the owner of Sports Direct, House of Fraser and Flannels, has delayed publication of its full annual results for the third time in four years, blaming a logjam in the audit industry.

The group, which is controlled by Mike Ashley, said full results would be delayed by at least a month as the timing of the acquisition and resource constraints within the audit industry as a whole", meant it could not include figures for its newly acquired business, Studio Retail, until September.