Riyadh – Mubasher: Abdullah Al Othaim Markets on Wednesday amended the expected impact of selling a shopping mall in Ha'el city to SAR 99.87 million before accounting zakat, and SAR 97.4 million after accounting zakat.

On Tuesday, the company stated that the expected impact of the deal is a profit of SAR 115.66 million before accounting zakat, and SAR 112.77 million after accounting zakat, according to a statement to the Saudi Stock Exchange (Tadawul).

The amendment of the forecasted financial impact is attributed to excluding the unrecognised profits of Al Othaim Markets as it owns a 13.65% stake in Abdullah Al Othaim for Investment and Real Estate Development.

The financial impact may change if amendments of the International Financial Reporting Standards (IFRS) related to this case occured, the Tadawul-listed firm stated, noting that the final financial impact of the transaction will appear in the statements for the third quarter of 2017.

By 12:33 pm KSA time, the stock inched down 0.02% to SAR 126.60.