The recent lockdown measures, encompassing no movement days, have been said to be among the causes of some listed companies being late in filing their audited financial statements.
So far, three companies have reported to the Jamaica Stock Exchange (JSE) of delays in meeting the deadline for filing their Audited Financial Statements, blaming the lockdown measures rolled out by the Andrew Holness Administration for this state of affairs.
The three companies are Caribbean Producers (Jamaica), Fontana Limited and Ciboney Group Limited. The Jamaica Observer understands that other listed companies are likely to advise the JSE in the coming days of delays in making their statutory filings as a result of the lockdown measures that have slowed down their auditing schedule.
Ciboney Group Limited, which is the latest company to advise of a delay in its submission of its audited financial Statements for year ended May 31, 2021. The company reports that these audited financial statements will be available by September 30, 2021.
In its advisory to the JSE, Caribbean Producers admitted to a delay in submission of its Audited Financial Statements for year ending June 30, 2021. “CPJ wishes to advise its valued Shareholders that due to government lock downs, it will file its Audited Financial Statements on or before September 30, 2021,” the advisory said.
As for Fontana, the company advised of a delay in Audited Financial Statement for the year ended June 30, 2021. Fontana told the JSE that, “the Audited Financial Statements for the year ended June 30, 2021 will be delayed due to challenges associated with the COVID-19 pandemic. The financials will be submitted on or before October 13, 2021.”