Riyadh - Mubasher: Ash-Sharqiyah Development has reported a decline in net losses by 57.16% for the second quarter of 2018, as shown by the company’s financial results.
Losses reached SAR 1.66 million in Q2-18, compared with SAR 3.87 million for the same period last year.
As for the first half of the year, losses went down by 52.9% year-on-year to SAR 3.5 million, the company said in a statement to the Saudi Stock Exchange (Tadawul) on Wednesday.
The company has attributed the decline in net losses for the decrease in operating costs, as well as reducing the level of feed production in line with the decision of the Ministry of Environment, Water and Agriculture in preparation for its suspension in early November 2018.
