Shares digital

Cosmetics retailer Faces Cosmetics (FCE:AIM) has delayed the release of its full year results and warned that the numbers will show a significant loss. This is the second blow shareholders have had to deal with after the company warned in July that full year figures to the end of July period would fall below expectations. However, at the time the firm indicated that the results would be announced some time in October. Investors have now been told that the results will not be unveiled until the end of January, a full three months late.

It is believed that there will be little news to comfort investors once the figures are released, with hefty stock write-offs and other costs likely to impact them. Auditor Mazars is also thought to be questioning some of the expenses which the company was hoping to capitalise, rather than charge against the profit and loss account.

Shares in the group have lost 75% of their value since being floated at 11.75p in September 2006.

Shares says: A bitterly disappointing start to life on Aim and there is little to encourage investors. AVOID