Ghida Al-Sultan delays H1 2026 results

Logo of Ghida Al-Sultan Co.

Ghida Al-Sultan Co. said it was unable to publish its preliminary financial results for H1 2026 within the regulatory deadline because the review of its condensed consolidated interim financial statements had not been completed.

In a statement to Tadawul, the company said its external auditor had requested additional technical studies and reports to determine the appropriate accounting treatment for a new investment, Brand Developers Co., established by the group during the period.

The company said the studies require the involvement of specialized external parties, including an accounting adviser specializing in International Financial Reporting Standards (IFRS) and an independent valuer. This requires additional time to complete the requirements, which could not be met within the prescribed deadline.

The company said it is working with the external auditor and relevant parties to complete the technical requirements. It will publish the financial results once the review is completed and the preliminary financial statements are approved.

Ghida Al-Sultan added that it will publish the financial statements within no more than 20 trading sessions following the session on which trading in the shares was suspended.

It said procedures to suspend trading in the listed securities would be applied in accordance with the Listing Rules, with trading in the shares to be suspended on Sept. 2.

The company affirmed its full compliance with governance rules, regulations, and instructions issued by supervisory authorities, noting that it had never previously failed to publish its preliminary or annual financial statements within the prescribed deadlines.

It said it would provide monthly updates on its inability to publish the financial results and would disclose any material developments without delay.