Mobily Official says no clear reasons for stock decline

19/11/2014 Argaam

Mobily CEO Khalif Al-Kaf said he had no clue to the decline of the company’s stock before the announcement of third quarter results.
 

Mobily said today the Capital Market Authority started a probe into its decision to revise revenues for financial periods in 2013 and 2014, which impacted shareholders’ equity and sparked complaints from investors.


Al-Kaf said the company and its external auditor had different views, but Mobily preferred the revision option for fairer financial results.


He said CMA’s probe was a genuine regulatory practice, aimed to validate the amendments.

The company made SAR 2.4 billion profit by end of September (post-revision), 41 percent lower than the same period of last year.  

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.