Saudi Cement to start implementing IFRS
Saudi Cement Company [3030.SE] announced plans to start implementing International Financial Reporting Standards (IFRS) on July 2016. The company has appointed an external advisor for the transition process, in addition to establishing an internal team responsible for its implementation, targeting to prepare the first IFRS financial statements on November 2016 for 1Q16. (Tadawul) Saudi Cement: SAR56.12 as of 30 August 2016, Rating: Buy, FV: SAR75.70 per share, MCap: USD2,290mn, SACCO AB / 3030.SE
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