Alasmak narrows accumulated losses to SAR 7.9 mln

Saudi Fisheries Co.’s (Alasmak) accumulated losses have declined to SAR 7.94 million, or 7.85 percent of capital as of Dec. 26, 2018, mainly due to its capital cut, it said in a statement to Tadawul.

Last month, the company’s general assembly approved a 49.45 percent capital reduction to SAR 101.1 million from SAR 200 million through the cancellation of 9.89 million shares, in order to offset accumulated losses.