SADAFCO reveals details on transition plan, fiscal year change

Packages of SADAFCO’s products

Saudia Dairy and Foodstuff Co. (SADAFCO) unveiled a detailed clarification on its previously-announcedtransition plan, in a statement to Tadawul today, Sept. 10.  

The company will issue “audited” financial statements for the second fiscal quarter (three months), beginning on July 1 and ending on Sept. 31, within the regulatory deadline for publication, which ends on Nov. 9. 

For the third quarter of the fiscal year, SADAFCO will issue “audited” financial statements for the three-month period starting from Oct. 1, and ending  on Dec. 31, , within the regulatory deadline for publication, which ends on February 11, 2024.

SADAFCO will issue “audited” financial statements for a short fiscal year (nine-month period), which begins on April 1, and ends on Dec. 31, within the statutory deadline for publication, which ends on March 31, 2024.

Starting from Q1 2024 (ending on March 31, 2024), SADAFCO will issue all the statements for the financial periods for 2024 and beyond in a normal manner in accordance with the Gregorian calendar, within the statutory deadlines applicable to companies whose fiscal year ends On December 31st.

The implementation of the transition plan will not result in any negative impact on the company’s financial and operational performance.