27 July 2023

TheWorks.co.uk plc

("The Works", the "Company" or the "Group")

Further change to date of FY23 preliminary results announcement

The Works, the family-friendly value retailer of arts and crafts, stationery, toys, and books today issues a further update regarding the timing of the publication of its preliminary results for the 52 weeks ended 30 April 2023 (FY23). 

The Group's auditor, KPMG LLP, has requested a further extension to the deadline to complete its audit procedures. The Board is disappointed by this additional delay which KPMG LLP has stated is necessary to allow time for the completion of standard audit processes including internal review and documentation. The remaining work relates to store impairment charges, which are non-cash items reviewed annually as part of the audit process, and which the Group treats as Adjusting. Consequently, this work will not impact the pre IFRS 16 Adjusted EBITDA, which is expected to be £9.0 million as previously stated.

The Group's results will be announced on Wednesday 30 August 2023, delayed from the previously announced date of Wednesday 2 August 2023.