Catering announces phase III of IFRS transition plan
Saudi Airlines Catering (6004.SE) announced phase III 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, and is working to finalise 4Q16 and FY16 IFRS financial statements. Catering confirms that it is ready to prepare its 1Q17 financial statements, in accordance with IFRS within the applicable regulatory period. (Tadawul) Saudi Airlines Catering Company: SAR90.97 as of 31 Jan. 2017, Rating: Neutral, TP: SAR105.00/share, MCap: USD1,989mn, CATERING AB/6004.SE
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