Addendum announcement from Saudi Airlines Catering Co. related to Saudi Airlines Catering Co. announces the interim financial results for the period ending on 30-06-2018 (Six Months)
Further to the announcement published on Tadawul's website on 05-08-2018 related to Saudi Airlines Catering Co. announces the interim financial results for the period ending on 30-06-2018 (Six Months), Saudi Airlines Catering Co. announces addendum as :
- During the first 2018, the Company adjusted its provision for bad debts as per the IFRS9, the positive impact from this compensated the lower revenue during the same quarter. As a result first and second quarter net profit were on a same level despite the higher turnover during second quarter 2018.
-External auditors reviewed the financial statements for the period ended on 30-06-2018 (Six Months) and issued unmodified report.
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