Riyadh - Mubasher: Saudi Fisheries Company (Al Asmak) posted a decrease in net losses for the second quarter of the year by 3.9% year-on-year, with losses increasing by 0.5% quarter-on-quarter, according to a bourse filing.
The company said in a statement to the Saudi Stock Exchange (Tadawul) on Tuesday that net losses amounted to SAR 9.28 million by the end of Q2-17, compared to SAR 9.66 million for the corresponding period in 2016, and SAR 9.2 million in the first quarter of 2017.
Saudi Fisheries attributed the decline in losses to lower Zakat provisions, despite the decrease in administrative and marketing costs, and other revenues, that were offset by a rise in financing expenses, the statement noted.
Net losses for the first half of the year went down by 6.9% and totalled SAR 18.51 million, compared to SAR 19.88 million for the same period in 2016.
