SABIC to announce 2022 consolidated financial results by February-end
- Date: 30-Oct-2022
- Source: Argaam
- Sector:Financial Markets
- Country:Saudi Arabia
SABIC to announce 2022 consolidated financial results by February-end
Saudi Basic Industries Corp. (SABIC) will no longer announce the interim condensed consolidated financial results for the fourth-quarter periods and will only announce its annual consolidated financial results, the firm said in a statement to Tadawul.
The decision aligns with SABIC’s efforts to apply international practices concerning financial results disclosure. SABIC is likely to announce the annual consolidated financial results for 2022 by the end of February 2023.
According to data compiled by Argaam, Saudi-listed firms will disclose their 2022’s annual results by March 31, 2023.
The Capital Market Authority (CMA) decided to exempt listed companies from disclosing the preliminary financial statements for the fourth quarter since 2017, giving them the option to choose their disclosure method.
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