When would Saudi-listed firms disclose their 2019 results?

08/01/2020 Argaam Special

 

The period for disclosing the 2019 financial results of Saudi-listed companies has started on Jan. 1, 2020 and will last until March 31.

 

The Capital Market Authority (CMA) amended in 2017 the period of disclosing quarterly financial statements from 15 business days to 30 days. The regulator also extended the period of announcing annual financial statements from 40 days to 3 months.

 

The decision coincided with a list of challenges facing the firms including making the switch to International Financial Reporting Standards (IFRS).

 

Financial Results Announcement Deadlines in 2020

Period

Start

End

Companies

Fiscal year ending December 31

Annual

January 1, 2020

May 31, 2020

 

Fiscal year ending March 31

Q3

January 1, 2020

February 11, 2020

SADAFCO – Tihama – Abo Moati – Alhokair – Atheeb Telecom

Annual

April 1, 2020

June 30, 2020

Fiscal year ending July 31

Q2

February 1, 2020

March 12, 2020

Ataa Educational

Q3*

May 1, 2020

June 24, 2020

Annual

August 1, 2020

October 31, 2020

Fiscal year ending August 31

Q2

March 1, 2020

April 9, 2020

National Company for Learning & Education (NCLE)

Q3

June 1, 2020

July 12, 2020

Annual

September 1, 2020

November 30, 2020

Fiscal year ending September 31

Q1

January 1, 2020

February 11, 2020

Al Yamamah Steel

Q2

April 1, 2020

May 12, 2020

Q3**

July 1, 2020

August 25, 2020

Annual

October 1, 2020

December 31, 2020

Fiscal year ending Rabi Al-Thani

Annual

Jumada al-awwal 1, 1441

Rajab 29, 1441

Makkah Construction and Development Co.

REITs

Annual

January 1, 2020

March 31, 2020

 

*Eid Al-Fitr

**Eid Al-Adha

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