Riyadh – Mubasher: Saudi Fisheries Company (Alasmak) on Sunday reported an 8.2% year-on-year net loss decline during the full-year 2018.

Saudi Fisheries’s net losses retreated to SAR 37.25 million ($9.92 million) last year, compared to SAR 40.58 million ($10.81 million) in 2017, according to a statement to the Saudi Stock Exchange (Tadawul).

The 2018 net loss drop was attributed to a decrease in sales and administrative expenses.

During the fourth quarter of 2018, the Saudi firm’s losses rose to SAR 15.77 million, compared to SAR 14 million in the year-ago period, according to statistics conducted by Mubasher.

Saudi Fisheries’s accumulated losses reached SAR 15.36 million by the end of 2018, representing 15.19% of the capital.

As for Q3-18, the Saudi company’s losses levelled up 9% to SAR 8.7 million, logging a net loss of SAR 21.5 million in the first nine months of 2018.

At the end of Thursday’s trading session, Saudi Fisheries’s stock fell 1.09% to SAR 63.70.