The losses of “Saudi Fish” fell 65.8% to 40.9 million riyals in 2024

The losses of the Saudi Fish Company in 2024 decreased by 65.8% to 40.9 million riyals, compared to losses of 119.9 million riyals in 2023.
According to the company’s statement on Saudi Arabia’s circulation, this is mainly due to:
• The cost of farms associated with production.
• The decline in operational expenses, accompanied by a decrease of 27% in public and administrative expenses.
• Reflecting a dedicated decrease in the value of non -financial assets in the amount of 7.6 million riyals.
– The net profit margin is negative, mainly due to:
• It holds fixed costs for the farmer after the harvest is over.
• Consulting costs associated with the restructuring of the capital.
• Acknowledgment of allocations of 8.98 million riyals, related to stocks, payments provided to suppliers, and city commercial receivables.