Riyadh – Mubasher: Saudi Fisheries Company (Al Asmak) on Sunday published a corrected statement regarding its first-quarter results, indicating a net loss of SAR 9.2 million ($2.45 million) in the first quarter of 2017, down 10% from SAR 10.2 million ($2.72 million) in the year-ago period.
Operating losses reached SAR 9.38 million in the first three months of the year, up 2.4% from SAR 9.16 million in Q1-16, according to a filing to the Saudi Stock Exchange (Tadawul).
Accumulated losses amounted to SAR 384.67 million ($102 million), representing 72% of the company’s capital worth SAR 535.375 million before the capital cut, the fisheries firm said in a separate statement.
On Thursday, Al Asmak had reported a 9.8% year-on-year decline in net profits Q1-17.
By 10:45 am Saudi time, the fisheries company’s stock grew 5.78% to SAR 25.80.
