Grupo Nutresa now classifies its investments in Venezuela as Financial Instruments28 October, 2016
Grupo Nutresa S. A. (BVC : NUTRESA) hereby announces that its Board of Directors, at a meeting held today, has given its approval to posting in accounts the investments held in Venezuela as financial instruments as of October 1st 2016, this as a result of having adopted International Financial Reporting Standards (IFRS), currently in force in Colombia.
Based on the definition of control as stipulated in IFRS 10, as of October 1st 2016, Grupo Nutresa shall be reporting the investments held in Industrias Alimenticias Hermo de Venezuela and Cordialsa Noel Venezuela S. A. as financial instruments under IFRS 9 with these classifying as “measured at fair value through other comprehensive income”.
At the end of September 2016, the equity, revenues and net income corresponding to its investments in Venezuela, represented 0.7%, 2.9% and 0.9% respectively of the Group´s total equity, revenues and net income.
By reporting this change in the accounting classification of the aforementioned investments, Grupo Nutresa continues to do its utmost in providing the market with clear and transparent information on which investors may base their decision-making.
This change in the investments´ accounting classification does not affect in any way the manufacturing or business operations carried out by Grupo Nutresa in Venezuela, nor does it have any effect on its staff or its relations with customers, suppliers and other stakeholders.