Saudi Cable says unable to disclose 2021 financials on time

Logo of Saudi Cable Co.

Saudi Cable Co. said in a bourse filing today, May 8, that it was unable to disclose its financial results for 2021 within the specified time due to a change in external auditor’s report

Any further developments will be announced, the cable manufacturer said, adding that trading will be suspended on the stock as per the listing rules announced by the Saudi Exchange (Tadawul) on March 25, 2019.

In April, the company said the delay in disclosing its financial results for 2021 within the specified time is due to the need to review Zakat provision between the external auditor and Zakat advisor following obtaining the draft financial statements, Argaam reported.

At the time, Saudi Cable said it expects the external auditor to complete the audit process and publish the annual financial statements for 2021 before May 8.