Ceres Power results to be delayed by audit

Ceres Power, a developer of clean energy technology, announced a delay in releasing its full-year results for the year ended 31 December on Thursday.

The London-listed firm put the delay down to the ongoing audit process by its auditor, BDO.

It said the audit was expected to cause adjustments to the timing of revenue recognition related to long-term contracts.

Ceres Power anticipated a modest increase in revenue for 2023, but a decrease in revenue reported for prior years.

The original reporting date of 20 March would be postponed while the audit was finalised, with Ceres to announce a revised date in due course.

At 1039 GMT, shares in Ceres Power Holdings were up 3.89% at 152.4p.

Reporting by Josh White for Sharecast.com.