NCLE clarifies plan for fiscal year change

Logo of National Company for Learning and Education (NCLE)

National Company for Learning and Education (NCLE) plans to change its fiscal year through issuing audited financial statements for the current shortened fiscal year of 11 months from Sept. 1, 2023, to July 31, 2024. The statements will be issued within the regulatory publishing deadline that ends on Oct. 31, 2024, NCLE said in a statement to Tadawul.

From Q1 ending Oct. 31, 2024, the company will issue all financial statements for the fiscal year ending July 31, 2025 and beyond in a normal manner and in line with the fiscal years of NCLE, and during the regulatory periods applicable to companies with fiscal year ending on July 31.

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NCLE also clarified that this transition will not have any impact on its financial or operational performance.

The company will announce any major updates in due time, if any, the statement added.