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Home Corporate News

Portland to Delay Publication of Results

The Trading Room by The Trading Room
in Corporate News
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Portland Seeks to sell land to pay lenders.

EAPCC has been undertaking a restructuring plan which included input of cost cutting measures including salaries and other operating costs. The company has announced a delay in publications of their FY results.

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East African Portland Cement Company has announced a delay in publication of their results for the Financial Year ended 30th June, 2019.

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In a statement published to shareholders today, the Board of Directors of the Company informed its shareholders and potential investors that the approval and publishing of the company’s audited financial statements for the period ended 30th June 2019 will be delayed.

The delay is due to the fact that the process of appointment of a new Auditor-General, who is responsible for certifying the Financial Statements, is yet to be finalized. Indications were that the process would be finalized in time to enable publishing of the financial statements by 30th November 2019. The company has advised that this date might not feasible.

The financial statements will be published after an Auditor General is appointed.

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Tags: Capital Markets AuthorityEast African Portland CementNairobi Securities ExchangeNSE
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