United Plantations: annual report but no Q4? (2)

On i3investor's website one kind person commented on this matter and pointed at the right paragraph.

The relevant text can be found in part 3 of the annual report of United Plantations, page 176 (PDF page 37):

Hmmm, not sure what to think about this.

On one side, I am all in favour of making things relatively easy for listed companies, we don't want good quality listed companies to delist or unlisted companies not to IPO because of the huge amount of compliance and/or reporting.

On the other side, I am rather surprised about not giving the 4th quarter results separately. The company anyhow will have the relevant numbers. Analysts and interested investors who want to (and actually: should) scrutinize the quarterly numbers now have to use the Q3 numbers and the annual numbers to come up with the P&L and CF numbers for the Q4 numbers. Also, no relevant comments specific to the Q4 results will be given.

Anyhow, one condition is that the full financial report has to be announced within two months, not many companies will be able to comply with that, hence they have to announce the Q4 financials still the old fashioned way.

United Plantations: annual report but no Q4?

One observer drew my attention to United Plantations, they issued their annual 2016 report already (kudos for that), but strangely enough not their Q4 results.

In other words, we need to dissect the annual numbers, compare them to the Q3 numbers to arrive at the P&L Q4 numbers (the balance sheet for the Q4 is of course the same for the year).

The company did the same the year before, not issue the Q4 financial results, but until 2014 all seems normal:

Highly unusual, I cannot recall ever having seen this before, every company that I have checked issues four quarterly financial results per year. No action was taken in 2016 by the regulators, so I assume all is in order.

Other than that, UP has a pretty good track record, Aberdeen is an investor in the company.