APR Energy hit as delays release of full-year results

SHARES in APR Energy, a supplier of temporary power generation, plunged 19.5 per cent yesterday to 885p after the group said that full publication of its results would be delayed.

The company said in a statement released after the market closed on Tuesday, that it will release 2011 results in mid-April “due to complexities in reporting and accounting for the various corporate transactions which have taken place during the period.”

APR is a vehicle run by Pizza Express founder Hugh Osmond, who bought the Jacksonville, Florida- based APR Energy in June for $855m (£540m).

Sources close to APR said it “simply ran out of the time needed” to complete the audit.

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