Deadlines for Saudi firms to disclose FY 2019 earnings approaching

Saudi-listed companies will announce Q1 2019 financial results between April 1 and May 12, in line with the period specified by the Kingdom’s Capital Market Authority (CMA).

In early 2017, the Saudi market regulator amended the period of disclosing quarterly financial statements from 15 business days to 30 days. The regulator also extended the period of reporting annual financial statements to three months from 40 days.

The extension coincided with the challenges faced by companies shifting to International Financial Reporting Standards (IFRS).

A deadline is yet to be set for publishing Q4 2019 financial results, while the annual financial results of the current year should be disclosed no later than March 31, 2020, according to a bourse statement.

The market regulator had exempted listed companies from disclosing their financial results for the fourth quarter of 2017.

* Business days in Saudi Arabia according to the CMA.

** The results disclosing period coincides with Eid Al Adha.