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Saudi Cable gives reasons for FY14 financials delay

Saudi Cable gives reasons for FY14 financials delay
Cables
SAUDI CABLE
2110
62.90% 93.10 35.95

Riyadh-Mubasher: Saudi Cable’s said its audited financial statements for the fiscal year 2014 were unavoidably delayed due to the anticipated occurrence of a material event after the balance sheet closure.

The company earlier signed an agreement to roll over its debts.

After concluding the agreement, the cable manufacturer has worked with its auditors to ensure full compliance with the Capital Market Authority’s regulations, and subsequently published the financials on 14 April, Saudi Cable said in a bourse filing.