Yamama Cement says retained earnings down after IFRS implementation

18/04/2017 Argaam

Yamama Cement Company’s implementation of the International Financial Reporting Standards (IFRS) has resulted in a SAR 312 million decrease in retained earnings, the company said in a statement to Tadawul on Tuesday.

 

Valuating the company’s fixed assets after relocating its headquarters resulted in the decrease in the retained earnings, the statement added. 

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