Clear Leisure shares back trading as accounts are published

Shares in Clear Leisure PLC (LON:CLR) resumed trading on AIM as the company finally published results for the 2019 financial year.

In a statement, Francesco Gardin, Clear Leisure’s chairman, said: “We have finally managed to publish the 2019 audited accounts due on 30 September, following a two and a half week delay, caused as a result of the need for material adjustments emerging just two days before the deadline.

“This matter highlighted that the previous year accounts were incorrect as a result of translating balances into Sterling for book-keeping purposes and then translating them back into the functional and presentational currency of the Group (Euros) when the underlying balances were already denominated in Euros Correcting these errors has involved a complete restatement, going back to 2017.”

Gardin added: “2019 saw the Company shift its focus towards new investment opportunities within the technology sector and to date, we have made several such investments.”

Clear Leisure made a loss EUR1.58mln for the year ended 31 December 2019: (2018: EUR3.74mln). Operating losses for the period were EUR1.38mln (2018: EUR3.44mln).