ARM Cement’s #ticker:ARM external auditor Deloitte & Touche has withheld its opinion on the company’s financial statements for the year ended December, saying there is significant doubt about the company’s continued operations.
The external auditor says its decision is based on the cement manufacturer’s bad performance in the review period when its net losses widened 2.3 times to Sh6.5 billion and short term liabilities exceeded current assets by Sh13.4 billion.
