Riyadh – Mubasher: Bishah Agricultural Development on Tuesday reported turning profitable in October with SAR 20,000 ($5,330), marginally trimming its accumulated losses.
The company's losses in the first 10 months stood at SAR 1.66 million, while its accumulated losses by the end of October 2016 reached SAR 67.7 million, representing 137.4% of capital, according to a filing to the Saudi Stock Exchange (Tadawul).
The Saudi company previously posted a net loss of SAR 108,000 ($28,800) for September, with nine-month losses in 2016 reaching SAR 888,000.
On 24 July, the company's extraordinary general meeting (EGM) approved the continuation of the company and said that it will not liquidate Bishah.
