HomeBussinessJuventus again postpones results for first half of fiscal year

Juventus again postpones results for first half of fiscal year

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March 8 (Reuters) – Italian Serie A soccer club Juventus (JUVE.MI) said on Wednesday that the board had decided to postpone the approval of its results for the first half of the 2022-23 fiscal year.

Italy’s most successful team, which is now under scrutiny by prosecutors for alleged false accounting, posted a 239 million euro loss in the fiscal year to June 30, 2022 as it continued to suffer from the effects of COVID-19.

Juventus postponed publication of its half yearly results earlier as well to March 8.

Allegations of financial misconduct and poor earnings performance led the Juventus board, including former Chairman Andrea Agnelli, to resign late last year and controlling shareholder Exor (EXOR.AS), the holding company of the Agnelli family, organised a reshuffle of the club’s top management.

“Board of Directors that met today resolved to postpone the approval of the Consolidated Half-Yearly Financial Report at 31 December 2022 to a Board of Directors meeting to be held between 22 and 24 March 2023,” Juventus said in a statement.

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The club said last week that the postponement was necessary to examine documents filed by prosecutors in Turin who are investigating the accounting and statements made to financial markets over the past three years.

Reporting Urvi Dugar in Bengaluru, editing by Ed Osmond

Our Standards: The Thomson Reuters Trust Principles.

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