Sunday, 28 June 2015

Etihad Etisalat to reissue 2014, Q1 2015 results after regulator probe | The National

Etihad Etisalat to reissue 2014, Q1 2015 results after regulator probe | The National:



"Saudi Arabia’s Etihad Etisalat (Mobily) said on Sunday that accounting changes would increase its 2014 loss by about 830 million riyals (Dh813.3m) to 1.745 billion riyals.



The company made the statement after a team appointed by the Capital Market Authority identified concerns over Mobily’s contracts with customers, including those for fibre networks. The team recommended that the company reconsider its accounting approach for the contracts.



Mobily said it would reissue its financial statements for the year 2014 and the first quarter of 2015 before releasing its second-quarter results."



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