Saudi Ceramic Co.’s board of directors has approved revaluation of the useful life of its plants’ machinery and equipment, the company said in a bourse statement.

 

The decision was based on a study performed by a consultancy office.

 

The company expected this process to have a positive impact on the financial results of 2019 related to fixed assets depreciation expenses.

 

This accounting event won’t have any impact on cash flows, the statement added.

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