Global Ports Holding PLC: Delay to publication of full year results

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: [phone]   Telephone: + [phone] 
Email:                           Email: 
[e-mail]   [e-mail] 
 
ISIN:          GB00BD2ZT390 
Category Code: TST 
TIDM:          GPH 
Sequence No.:  54442 
EQS News ID:   1006223 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

March 25, 2020 03:00 ET (07:00 GMT)