Yansab discloses an update on the transformation to IFRS
Yansab has disclosed an update on the transformation process to IFRS, highlighting that the company is still in the process of preparing the quarterly financial statements for 2016, and it expects to finish it during 1Q17. The company mentioned that the transformation process is expected to include some non-core adjustments in the company’s financial statements. Finally, the company noted that it has completed all the necessary procedures to publish IFRS-compliant results starting 1Q17. (Tadawul) YANSAB: SAR58.85 as of 31 Jan. 2017, Rating: Buy, TP: SAR54.00/share, MCap: USD8,828mn, YANSAB AB/2290.SE
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