Riyadh – Mubasher: Tabuk Agricultural Development Company announced its interim financial statements for the second quarter of 2019.

The company moved to losses with SAR 66.6 million in Q2-19, against profits of SAR 6.6 million in Q2-18, according to a bourse filing on Tuesday.

Revenues plunged by 18% to SAR 21.6 million during the three-month period ended June, compared to SAR 26.3 million in the same period of the prior year.

For the first half of 2019, net losses of the Saudi-based firm reached SAR 90.15 million, versus profits of SAR 950,575 in H1-18.

Tabuk generated SAR 29.77 million in revenues in H1-19, 35.9% down from SAR 46.5 million in the corresponding period of 2018.

Loss per share recorded SAR 2 by the end of June, versus profit per share of SAR 0.02 in the same period of the year before.