Mumias Sugar Company. [Photo/businessdaily]
Mumias Sugar Company is set to delay the release of its financial results for the year ending June 2017 due to in complete audit.
The firm has requested for extra time in finalizing the audit report.
The troubled firm on Tuesday said it has sought a month-long extension from the Capital Markets Authority (CMA).
“Mumias Sugar Company announces that the publication and submission of the audited annual financial statements of accounts for the period ended 30 June 2017 will delay by one month to 30 November, 2017,” said Mumias board chairman Kennedy Mulwa in a statement.
“The board of directors has taken this step to ensure that upon release, the statements reflect a true and fair view of the financial state of affairs at the company,” he added.
The deadline for submission of results to Kenyan financial authorities is October 31.