Hibu keeps investors hanging as it delays its full-year results

 
City A.M. Reporter
BELEAGUERED directory publisher Hibu has delayed its full-year results as it tries to pin down the details of a restructuring plan.

The firm, best known for printing Yellow Pages, had been expected to reveal its annual figures this week but a message on its website merely states that the results are “to be advised in due course”.

Hibu said in February that it hoped to reach an agreement with lenders on a new capital structure “in the near future”.

The group had more than £2bn in debts at the end of the year, built up in a series of acquisitions including a Spanish directories business in 2006.

Hibu has struggled to replace its dwindling print revenues with an online presence.

Shares in the group have been worth less than 0.5p since September, when the firm started talks with its six biggest lenders. They closed at 0.42p yesterday.