Al Asmak’s losses fall 19% to SAR 8m in Q3

Al Asmak’s losses fall 19% to SAR 8m in Q3
Net losses reached SAR 8 million in Q3-17, compared to SAR 9.89 million in Q3-16, according to a bourse statement
SFICO 6050 -2.82% 28.29 -0.82

Riyadh – Mubasher: Saudi Fisheries Company (Al Asmak) on Wednesday stated that its net losses dropped 19.22% in the third quarter of 2017, compared to the year-ago period.

Net losses fell to SAR 8 million in Q3-17, from SAR 9.89 million in Q3-16, according to a bourse filing.

Quarter-on-quarter, losses tumbled 13.42%.

The firm attributed the decline in its year-on-year net losses to a drop in Zakat provisions, and to a decrease in financing, general, and administrative expenses.

Al Asmak’s net losses levelled down 11.01% to reach SAR 26.49 million in the first nine months of 2017, compared to SAR 29.77 million in the same period in the previous year.

By 11:13 am KSA time, the stock shed 0.27% to reach SAR 25.90.

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Source: Mubasher

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