Saudi Fisheries Losses Hit 37% of Capital
Riyadh, Saudi Arabia — Saudi Fisheries Company has disclosed that accumulated losses reached 24.8 million SAR, equal to 37.03% of its 66.99 million SAR capital. The figures are based on financial statements for the period ending September 30, 2026. The loss threshold triggers mandatory procedures under Saudi Capital Market regulations for listed companies whose accumulated […] The post Saudi…
Saudi Fisheries Company reported accumulated losses of 24.8 million SAR, representing 37.03% of its 66.99 million SAR capital, based on financial statements for the period ending September 30, 2026. This significant drop triggered mandatory regulatory procedures for companies with accumulated losses exceeding 20% of capital. The company suspended commercial operations to restructure, leading to increased general and administrative expenses and losses from discontinued operations and asset impairment.
Attempts to address the financial situation included selling a 51% stake in Al-Haridha National Aquaculture Company, offering its Riyadh headquarters land and building for sale, and rescheduling the remaining 24.86 million SAR of the Al-Haridha transaction. However, these actions do not address the fundamental issue of no operating revenue and no near-term profitability.
The rejected capital increase proposal further limits the company's financial flexibility and recovery prospects.
Written by urgent.news from The Saudi Standard's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
