Development Works Food unable to disclose 2020 financial on time

Development Works Food Co. announced today, March 31, 2021, that it was unable to disclose its financial results for 2020 within the specified time.

The company said in a bourse statement that its inability to publish the annual financial results is due to the failure to complete the review process requirements for the consolidated financial statements for 2020 before March 31, 2021, so far by the accounts department due to COVID-19.

The company expects the external auditor to complete the audit work and publish the consolidated annual financial statements before April 15, 2021.

Trading will be suspended on the stock as per the listing rules announced by the Saudi Stock Exchange (Tadawul) on March 25, 2019, the statement concluded.