It is extremely unusual for a firm to delay results in this way, with one analyst calling events "an utter shambles" after a results presentation was postponed at the last minute.

The firm said it expected its results would still be published on Friday.

The retailer had previously delayed publishing annual results on 15 July.

At the time it cited uncertainty in trading at its House of Fraser chain and increased scrutiny of its auditor as the reasons for the delay. It had also indicated that it might not achieve its profits forecast.

In a statement released on Friday morning, Sports Direct said: "Unfortunately we are still finalising preliminary results.

"We anticipate that our annual results will still be released today, with a presentation to follow, and will update again at midday.

"Apologies for any inconvenience."

Neil Wilson, chief market analyst for Markets.com, said the events were "a total and utter shambles" that "betrays a number of problems at the business after [Mr] Ashley embarked on his rather random acquisition spree."

"Above all it betrays a total disregard for shareholders," he said.

On Wednesday, the firm had said it would be publishing its results on Friday.

UK-listed companies normally publish their results at or close to 07:00, before the London markets open at 08:00.

Sports Direct shares fell about 3% in early trading on the London stock market.

The firm had been due to give a presentation to investors and media at 09:00, but this was cancelled at the last minute.

BBC personal finance correspondent Simon Gompertz tweeted:

Guardian journalist Rob Davies tweeted: