Saudi Fisheries reports 45% higher losses in 9 months
Saudi Fisheries Company reported a 44.967% increase in net losses after zakat and tax to SAR 37.848 million during the first nine months of 2021, compared to SAR 26.108 million in the year-ago period.
The company generated revenues of SAR 33.783 million in the January-September period of 2021, up 12.25% from SAR 30.096 million in the corresponding period of 2020, according to a bourse filing on Wednesday.
The loss per share stood at SAR 0.95 in the first nine months of 2021, compared to SAR 0.15 the same period of 2020.
During the third quarter (Q3) of 2021, the company's net losses hiked by 199.448% year-on-year (YoY) to SAR 18.464 million from SAR 6.166 million.
Meanwhile, the company logged accumulated losses of SAR 132.665 million, representing 33.17% of the company's capital.
It is noteworthy to mention that during the first half (H1) of 2021, the company's net losses rose by 2.793% to SAR 19.384 million from SAR 19.941 million in the same half of the earlier year.