Loonland delays earnings report
EmptyCOLOGNE, Germany -- German kidvidder TV Loonland has pushed back the publication of its 2006 earnings figures by a month, the company said Friday.
The move comes a few days after a profit warning that sent Loonland shares into a tailspin.
Loonland, which controls U.K. indie Metrodome Distribution and U.S. kids group Sunbow, said it will publish its annual figures April 27, not March 29 as initially planned.
Last week, Loonland said it had "discovered" that it booked a loss equal to more than half of the company's issued capital last year.
The news torpedoed Loonland shares, which fell more than 30% in a matter of hours (HR 3/20).
Loonland management, which took over last year after a shareholder revolt, said it needed more time to clarify the reasons for the unexpected loss.