Hon Po Group (Lobster King) has further postponed the announcement of its results for the past financial year to next month. It said the management had been too busy grappling with the effects of the Sars outbreak to spare time for the paperwork. Group chairman Cheung To-sang said: 'In light of the adverse implications of atypical pneumonia on the group's restaurant operation, the director and the management have had to give top priority to handling impacts of the plague, and accordingly have afforded less attention to the preparation and publication of the annual results announcement.' On Monday, when the company was due to report results for the year to December 31, which should have been released before April 30, Hon Po said they would be available by June 9. Hon Po shares rose 8.89 per cent yesterday to close at 4.9 HK cents. The company said the delay in publishing the annual results and annual report constituted breaches of listing rules and the stock exchange had reserved its right to take action against Hon Po regarding the breaches. Hon Po said its auditors had completed the fieldwork for the audit. Mr Cheung said the company would now be able to provide the auditors with additional information about the impact of the Sars outbreak on the group's future as a going concern and to review and agree the accounts with the auditors. Hon Po earlier said it recorded unaudited loss before minority interests of $43.68 million for the year to December 31, against an audited pro-forma profit before minority interests of $21.71 million in 2001.
