SIDC unable to disclose FY19 financials on time

31/03/2020 Argaam

 

Saudi Industrial Development Co. (SIDC) announced its inability to publish its annual financial results for the fiscal year 2019 on time.

 

The company said in a statement to Tadawul that it is still in the process of providing the auditor with more information on the company’s consolidated financial statements for the year 2019.

 

SIDC affirmed that the delay is neither related to SIDC nor its subsidiaries’ operations.

On the next step, SIDC expects the external auditor to complete the audit procedures before April 20, 2020.

 

The company also said that trading suspension might be applied according to the listing rules announced on March 25, 2019.

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