| Element List | Explanation |
|---|---|
| Date of Publishing the Previous Announcement Sought to be Corrected on Saudi Exchange’s Website | 2026-08-05 Corresponding to 1448-02-22 |
| Hyperlink to the Previous Announcement | Click Here |
| Incorrect statements in the previous announcement | -The increase in net profit in 2Q 2026 compared to 2Q 2025 was primarily driven by higher revenue, improved operational efficiency and disciplined cost control, which strengthened both gross profit and operating profit. -Other matter |
| Correct Statement | -The decrease in net profit in Q2 2026 compared to Q2 2025 was primarily due to the ECL provision. -Other matter The condensed interim financial statements as at and for the three- and six-month period ended 30 June 2025 were reviewed, and the financial statements as at and for the year ended 31 December 2025 were audited by another auditor, whose review and audit reports dated 28 August 2025 and 19 March 2026 respectively, expressed an unmodified review conclusion and unmodified audit opinion thereon. |
Correction announcement from Cherry Trading Co. in regards to the Preliminary Financial Results for the Period Ended June 30, 2026 (Six Months)
AI Summary
- Cherry Trading Co. corrected its preliminary financial results for the second quarter of 2026, clarifying that net profit actually decreased year-over-year compared to Q2 2025.
- The company retracted a previous announcement that incorrectly claimed a profit increase, now identifying an Expected Credit Loss (ECL) provision as the primary driver behind the net profit decline.
- The correction nullifies previous management commentary that had attributed the period's performance to higher revenue, improved operational efficiency, and disciplined cost control.
- While specific currency figures were not detailed in this correction notice, the company confirmed that its 2025 financial statements were audited by a different firm and received unmodified opinions.
