Tranex Blames First Quarter Results Delay On Software Migration
Trans-Nationwide Express Plc (Tranex) has announced that it will be unable to file its unaudited financial statements for the first quarter ending 31 March 2025 by the regulatory deadline of Tuesday, 30 April 2025.
The company, in a notice to the Nigerian Exchange Limited (NGX), its shareholders, and the investing public seen by THE WHISTLER, said the delay is primarily due to ongoing technical challenges associated with its recent migration to a new enterprise software platform.
It noted that the data migration process, which is crucial to the integrity and accuracy of the company’s financial reporting, has experienced unforeseen issues that have impacted the timely preparation of the financial statements.
The company said that while significant progress has been made toward resolving the technical bottlenecks, its management, in consultation with its finance and technology teams, has concluded that additional time is required to ensure the completeness, accuracy, and compliance of the report with applicable financial reporting standards.
The company anticipates that all outstanding issues will be resolved in due course and is working diligently to complete the reporting process.
“Barring any further unforeseen circumstances, the Q1 2025 Unaudited Financial Statements will be submitted to the NGX on or before Friday, 30 May 2025.
“We sincerely regret any inconvenience this delay may cause and appreciate the understanding and continued support of our valued shareholders, stakeholders, and the investing public,” the notice signed by the Company Secretary, Francis Asuquo, said.
Tranex Blames First Quarter Results Delay On Software Migration is first published on The Whistler Newspaper
