Al-Khodari discloses dates for earnings disclosure

Abdullah A. M. Al-Khodari Sons Co. expects to disclose financial statements for the FY ending Dec. 31, 2018 before Nov. 21, 2019, the company said in a bourse filing.

Financial statements for the period ending on March 31, 2019 are forecast to be disclosed before Nov. 30, 2019.

Financial statements for the period ending on June 30, 2019 are expected to be revealed before Jan. 15, 2020.

Additionally, financial statements for the period ending on Sept. 30, 2019 are estimated to be posted before Jan. 31, 2020.

The company submitted its draft work plan and financial restructuring procedure to the auditors – a key perquisite for issuing its FY18 consolidated financial results.

Accordingly, the Saudi contractor was unable to issue FY 2018 financial statements by the end of October, Al-Khodari added.

It is difficult to estimate the financial impact, which could arise from the company’s failure to publish its annual and first quarter results on time, the Saudi contractor said, adding the related financial impact will be disclosed in due course.

Al-Khodari had earlier attributed delays in disclosing its financial statements to audit requirements, Argaam reported.