Zimbabwe Stock Exchange grants Tanganda Tea Company permission to delay financials

ZIMBABWE Stock Exchange-listed tea processing giant, Tanganda Tea Company, has notified stakeholders that there will be a delay in publishing financial results for the half-year period ended March 31 2024.

The results, initially due on or before June 30 have been granted an extension by the Zimbabwe Stock Exchange and will now be published on or before July 31, 2024.

In a statement, Tanganda Tea company secretary, Ms Sharon Kodzanai emphasised that the company is committed to transparency and looks forward to sharing their financial update with the market by the end of this month.

“As we navigate this period of delayed financial reporting, we appreciate the flexibility granted by the Zimbabwe Stock Exchange and assure our stakeholders that we are working diligently to finalise our results for the half-year period ending March 31, 2024,” said Ms Kodzanai.

The extension allows time to resolve the new auditors’ technical issues arising from different approaches to International Accounting Standard (IAS) 29 Financial reporting in hyperinflationary economies.

The Company regrets any inconvenience caused by the delay and appreciates the understanding of its stakeholders as it works to finalise its financial results for the half-year period ending March 31, 2024.-chronicle