Riyadh-Mubasher: Bishah Agriculture Development Co. (BISHACO) said on Thursday that its accumulated losses reached SAR 67.2 million ($17.92 million) until the end of February 2016, representing 134.3% capital.
The company posted net losses of SAR 55,000 ($14,666) for February, compared with SAR 213,000 ($56,800) in the same month of 2014.
Net losses for 2015 reached SAR 1.5 million ($0.40 million), rising 14% compared with SAR 1.3 million ($0.35 million) a year earlier.
The companies whose accumulated losses reach or exceed 50% of capital are requested to release their financials on a monthly basis, according to the Saudi market regulations.
