SADAFCO announces phase III of IFRS transition plan
Saudia Dairy and Foodstuff Co. (SADAFCO) [2270.SE] announced phase III of International Financial Reporting Standards (IFRS) transition plan. The company has prepared comparative quarterly financial statements until 31 December 2016 in accordance to IFRS. There is no material impact resulting from implementing IFRS so far. SADAFCO is ready to prepare IFRS financial statements for the quarter ending 30 June 2017. (Tadawul) SADAFCO: SAR116.38 as of 31 Jan. 2017, Rating: Buy, TP: SAR164.00/share, MCap: USD1,009mn, SADAFCO AB/2270.SE
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