Annual results delayed by Purplebricks
Solihull-based Purplebricks has delayed its full-year results until the first week of August to allow sufficient time to complete the audit.
This comes after the firm issued a profit warning in May due to a major drop in instructions since it announced its interim results in January. It was down from 58,043 in 2021 to 40,141 over the last 12 months.
The firm says it has included additional procedures for its audit as a result of new processes and controls implemented by the company since the last audit.
The board continues to expect to report revenue of £70m and EBITDA of £8.8m as previously announced in May.
The news marks the end of a tough year for Purplebricks, which saw it facing a £9m pay-out over a deposit scheme error and its CEO stepping down in March.