REG - Harland & Wolff - Extension to Publication of Annual Report

Harland & Wolff groupAnnouncement

29/06/2022 18:00

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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
(http://www.harland-wolff.com/)  or contact:

 

 Harland & Wolff Group Holdings plc                                        +44 (0)20 3900 2122

 John Wood, Chief Executive Officer                                        investor@harland-wolff.com (mailto:investor@harland-wolff.com)

 Seena Shah, Head of Marketing & Communications                            media@harland-wolff.com (mailto:media@harland-wolff.com)

 Cenkos Securities plc (Nominated Adviser & Broker)                        +44 (0)20 7397 8900

 Stephen Keys / Callum Davidson / Dan Hodkinson (Corporate Finance)

 Michael Johnson (Sales)

 

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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