Jarir Marketing (4190.SE) announced the second phase of its transition plant to International Financial Reporting Standards (IFRS). The company’s IFRS implementation plan has been approved, and the first set of IFRS based financial statements for 1Q16 have been prepared for management purposes, but are yet to be audited or reviewed by the company’s external auditor. Key accounting differences that resulted from adopting IFRS resulted in a decrease in retained earnings of cSAR25mn due to an increase in end-of-service provisions and a decrease in deferred profit. Besides the reclassification of certain items in financial statements, there has been no material impact on the net profit of 1Q16. Jarir is targeting to prepare the first complete set of IFRS financial statements on 31 December 2017.  (Tadawul)    Jarir Marketing Co.: SAR89.69 as of 26 October 2016, Rating: Neutral, FV: SAR127.00 per share, MCap: USD2,153mn, JARIR AB / 4190.SE