Fitaihi says shareholders’ equity down on IFRS adoption

11/05/2017 Argaam

Fitaihi Holding Group has reported a SAR 53.8 million drop in shareholders’ equity due to the implementation of the International Financial Reporting Standards (IFRS) on financial statements as of January 1, 2016.

 

Meanwhile, a provision for employee end-of-service benefits caused a decrease of SAR 0.9 million, the company said in a statement to Tadawul on Thursday.

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