Al-Khodari postpones disclosing FY18, Q1 2019 results

01/08/2019 Argaam

 

Abdullah A. M. Al-Khodari Sons Co. expects financial statements for fiscal year (FY) ending on Dec. 31, 2018 to be posted before the end of August 2019, the company said in a bourse statement.

 

The company said it was unable to publish the financial results on time as it is in the process of finalizing the due audit requirements, including the restricting plan needed to offset the accumulated losses.

 

The relevant financial impact cannot be defined at present, the statement added.

 

In a separate statement, the company said it expects to reveal Q1 2019 financial results by mid-September 2019.

 

According to data compiled by Argaam, the firm has postponed the disclosures of 2018 results several times.

 

Tadawul placed on April 30 a trading halt on the company’s shares until it discloses its fiscal financial statements.

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