Riyadh-Mubasher: Tabuk Agricultural Development (TADCO) suffered net losses of SAR 2.8 million in the fourth quarter of 2015, versus net earnings of SAR 1.7 million in the same period of 2014.
The Tadawul-listed company attributed the losses to low sales, high cost of sales and increase in general and administrative expenses.
FY15 net earnings dropped 25% year-on-year from SAR 7.2 million to SAR 5.3 million.
The profit decline was ascribed by TADCO to low sales and increase in general and administrative expenses.
