- Results to be out on or before 11 November 2021
- ZSE granted permission for the delay
- Penalties are given to companies that fail to publish results on time
Harare - The effects of the COVID-19 restrictions which affected most companies in the country have not spared the Zimbabwe Stock Exchange-listed (ZSE) clothing firm, Truworths on delaying its publication of full-year 2021 results which were due on 11 October 2021.
In a notice, the Company said the publication of the audited results for the full year ended 11 July 2021 will be delayed due to COVID-19 related effects posed on the business operations of the company.
“Due to the Covid-19 pandemic restrictions which limited working hours and the need to work remotely, there will be a delay in the publication of the Audited Results,” the Company’s secretary, Bernard Chibanda said in a statement accompanying the notice on behalf of the board.
The results are now expected to be out on an extended date given by the ZSE which is on or before the 11th of November this year.
A number of ZSE listed companies asked for an extension in publishing their full-year financials citing the same problems pointed by Truworths.
According to ZSE regulations, companies should publish their financials within three months from the end of the financial period being reported.
Companies that fail to report their full-year results on time might face penalties from ZSE including suspension or termination of trading of shares on the local bourse.
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