UK's WH Smith delays results once again over audit review

Dec ‌12 (Reuters) - Britain's WH Smith delayed the publication ‍of ‌its preliminary annual results for the second time ⁠on Friday, as the ‌travel retailer struggles with the fallout of some accounting failures in its U.S. operations.

The company now plans ⁠to release the results for the year ended August 31 ​on December 19, after already postponing ‌once in October.

WH Smith, ⁠which was earlier slated to publish its results on December 16, said the revised ​date will provide the company's auditor, PricewaterhouseCoopers LLP, "further time to complete the required audit procedures".

Shares of the company fell 2.4% to 651.5 pence ​in ‍early trading.

An independent ​review in WH Smith's books revealed that earnings in its North America business, its second-largest division, had been overstated and has since prompted a profit cut and its CEO to resign.

WH ⁠Smith is also reviewing the leadership of its North America business, where ​a new boss was appointed less than five months ago, after the review revealed weaknesses in the finance team’s composition ‌and inadequate systems, controls, and review procedures.

(Reporting by Yamini Kalia in Bengaluru; Editing by Eileen Soreng)