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Ferrexpo delays FY'18 results as charity probe uncovers additional discrepancies

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Ferrexpo delays FY'18 results as charity probe uncovers additional discrepancies

Ferrexpo PLC said it now expects to release its full-year 2018 results around April 3 after a probe into its donations to a charity uncovered additional discrepancies.

Results had been scheduled for March 20.

In early February, the company launched a probe into the Blooming Land Charitable Foundation, which has received donations from the company, after finding "unexplained discrepancies" in the Ukrainian charity's bank statements.

Ferrexpo said March 19 that its advisers' preliminary work "identified a number of discrepancies on the application of funds by Blooming Land and its sub-funds, which indicates that the funds may not all have been used for their stated purpose."