Riyadh – Mubasher: Saudi Fisheries Company (Alasmak) on Sunday reported a 19.1% year-on-year (YoY) rise in its net losses after Zakat and tax during the first quarter (Q1) of 2020.
Net losses widened to SAR 11 million during the January -March period of 2020, compared to SAR 9.2 million in Q1-19, according to a bourse disclosure.
Moreover, revenues by 92.9% to stand at SAR 10.2 million.
The growing interim losses are ascribed to the increase in the company's general and administrative expenses, financing costs, and the expenses of fishing fleet and farms due to recent maintenance activities.
