Catering announces phase II of IFRS transition plan
Saudi Airlines Catering (6004.SE) announced phase II of its transition plan to International Financial Reporting Standards (IFRS). The company has prepared IFRS financial statements for 1Q16, 2Q16 and 3Q16 with no material differences, which are expected to be approved by its external auditor on 7 December 2016. The target date for the company to obtain the final approval of its accounting policies from the Board of Directors (BoD) is 6 December 2016, to allow for a gradual transition to IFRS accounting. (Tadawul) Saudi Airlines Catering Company: SAR89.26 as of 30 October 2016, Rating: Neutral, FV: SAR110.00 per share, MCap: USD1,952mn, CATERING AB / 6004.SE
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