ABC Learning delays results a third time

(AAP) - Troubled childcare provider ABC Learning Centres has delayed releasing its fiscal 2008 annual results for the third time this year.

Originally due in August 2008, ABC Learning first delayed its annual results until
the end of September, then again until Friday.
But instead of the long-awaited profit figures, ABC Learning investors heard another
excuse.
"Work continues on finalising the full year result and prior period adjustments
arising out of a reassessment of accounting treatments," ABC Learning said in a
statement.
"The company is working to conclude the final outstanding matters as soon as
possible which will enable the release of the full audited statutory accounts ...
and the resumption of trading on the ASX."
With the second results delay in September came the news that ABC Learning's chief
executive and founder Eddy Groves had left the company - along with his co-founder
wife Le Neve Grove.
ABC Learning appointed former managing director of Colorado Group, Rowan Webb, as
interim chief executive until a permanent chief is found.
ABC Learning operates more than 1,200 childcare centres throughout Australia and New
Zealand.
The company said they continued to operate as usual.
Last week the Queensland government set up a task force to develop a contingency
plan in case ABC Learning collapsed
Premier Anna Bligh said at the time that as childcare was regulated by both state
and federal government, they had been working together on the situation.
ABC shares was placed in a trading halt on August 21, when it last traded at 54
cents. It was trading about $7 in August 2007.