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National Building and Marketing fined for late financials

National Building and Marketing fined for late financials
Saudi Capital Market Authority
NBM
9510
0.00% 232.00 0.00

Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has imposed a fine of SAR 20,000 on National Building and Marketing Company due to violating market rules.

The company did not disclose its interim financial statements for the period ending 30 June 2019 within the specified period, according to a statement to the Saudi Stock Exchange (Tadawul).

The company did not disclose the mentioned results until 27 October 2019.

Earlier today, National Building and Marketing Company reported a 46.5% year-on-year (YoY) increase in profits for the third quarter (Q3) of the year to SAR 11.215 million.

As for the nine-month period ending 30 September 2019, net profits after Zakat and tax amounted to SAR 19.77 million, decreasing by 1.77% compared with the same period last year.