ABC Learning Centres says it is still working to finalise its annual accounts and expects to release its results for fiscal 2008 by the end of this month.
The child-care centres operator said the concurrent release of its audited accounts and profit results "will eliminate any further speculation and uncertainty.''
ABC Learning today also said that it had appointed a new chief financial officer.
Peter Trimble will take over the position from September 22, replacing James Black who in April announced he would be leaving the company for personal reasons.
Mr Trimble most recently completed an interim appointment as chief financial officer at CSR Ltd.
Previously, he has held various senior finance positions at Rinker and CSR.
He was chief financial officer of CSR Readymix and CSR Timber Products in Australia and was chief financial officer of Hydro Conduit Corp and American Aggregates Corp in the US.
"We are pleased to secure an executive of Peter's calibre and experience to this important role,'' ABC Learning chairman David Ryan said in a statement.
"He will be a key member of ABC's executive team, which has been significantly strengthened during the year.''
Meanwhile, ABC Learning also said that Frank Ford, who was named as one of five proposed non-executive directors expected join the board in mid-September following a restructure, had decided not to take up the position.
"Mr Frank Ford, one of the proposed appointees, has advised that he no longer wishes to proceed with the appointment,'' the company said.
"It is anticipated that the remaining appointments will now take place at some time after the company's results have been released.''
Shares ABC Learning remain suspended from trading pending the announcement of the results.
The stock was placed in a trading halt on August 21. It had last traded at 54 cents.
Last week, the company sold its UK voucher business, Busy Bees Childcare Vouchers, to share registry Computershare for 90 million pounds ($190.7 million).
Proceeds from the sale will be used to retire debt under the company's syndicated bank facility.
In July the company forecast a pre-tax earnings loss of $437 million for 2007/08.
The guidance fed speculation in financial markets that the company is losing money and that chief executive Eddy Groves could be forced out of his job.
There is further speculation that the annual results, which were due to be reported on August 29, will include more writedowns.
However, Mr Groves said last month that neither the board nor shareholders of the child-care provider had indicated they want him to step down.
"Right now I still think I'm the best person to get us through this point in time, and get us to the other side,'' Mr Groves said, adding that the company was doing all it could in a difficult environment.
AAP
