Riyadh-Mubasher: Saudi Advanced Industries Co. (SAICO) recorded net losses of SAR 15.2 million in Q4-15, versus earnings of SAR 2.3 million in the same period last year.
The company attributed Q4 losses to the losses sustained by associate firms and other expenses.
FY15 bottom line dropped 92% year-on-year from SAR 15 million to SAR 1.1 million.
SAICO ascribed the profit decline to low revenues from associate companies because of the losses recorded by the poultry segment.
