Diageo-controlled United Spirits has yet to submit its latest full-year financial results

Diageo-controlled United Spirits has yet to submit its latest full-year financial results

United Spirits, the Diageo-controlled drinks firm, is set to hold a board meeting next week in a bid to approve the unit's delayed full-year financial results.

In a statement to the Bombay Stock Exchange today, the company said its board will meet on 3 September to consider its draft accounts for the year-end to March, and any possible dividend. Last year's full-results were disclosed in May.

In June, United Spirits blamed the delay in reporting the results on problems with debtors and an outstanding loan. Prior to that, it pointed to having to factor in the impact of the proposed sale of its Scotch whisky business, Whyte & Mackay, as a mitigating factor.

Diageo took majority control of United Spirits last month, when it upped its stake to 54.78%.