The publication of Labat Africa`s results for the year to February has been delayed because the previous figures are being "revisited" in terms of their compliance with the South African Statements of Generally Accepted Accounting Practice.
The group says the results for the 2004 financial year may have to be restated.
The JSE listing requirements stipulate that a company must publish its figures within three months of the end of a financial period.
There has also been a delay in the approval by the JSE of the circular explaining the disposal of Acme Stores, a non-core retail business that accounts for 58% of the entire group`s debt.
Labat says the circular will be resubmitted to the JSE once its provisional accounts have been published, as the reporting accountants will have to report on the year to February 2005.
In addition, Labat has belatedly published the details of its acquisition of Altech`s Africard business with effect from 1 May last year.
This is because the company was told by the JSE that the nature of the Africard acquisition is such that Labat is compelled to notify shareholders by way of a formal announcement.
The deal was agreed to on 16 February last year, in terms of which Labat paid R5.83 million for Africard, excluding the card personalisation business.
Altech had to sell Africard to obtain Competition Commission approval for its R500 million acquisition of NamITech.
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