TADCO narrows losses to SAR 26.8M in 9M 2026, SAR 5.86M in Q3

Tabuk Agricultural Development Co. (TADCO) logged a net loss of SAR 26.8 million for the first nine months of 2026, compared to SAR 49.2 million in the same period a year earlier.

Revenue from operating leases, higher olive oil trading revenue, and other income contributed to the decline in losses. In addition, cost of revenue, selling and distribution expenses, and general and administrative expenses declined.

However, overall revenue fell due to lower agricultural production, ongoing operational restructuring, reduced inventory available for sale, and lower grain and fruit segment revenue.

The company also recorded a lower share of profits from equity-accounted associates.

TADCO narrowed its loss to SAR 5.86 million for Q3 2026, a rise of 75.7% from SAR 24.1 million in Q3 2025.

The company attributed the improvement to recording a gross profit, compared to a gross loss in the year-earlier quarter, driven by lower cost of revenue, selling and distribution expenses, general and administrative expenses, and finance costs, in addition to higher net other income.

Losses also narrowed from SAR 8.96 in Q2 2026 on higher revenue, following the start of marketing onion production for the 2026 agricultural season, the launch of olive oil trading, and revenue from orchard rentals.

Total shareholders’ equity, after excluding minority interest, decreased to SAR 59.98 million as of Sept. 30, 2026, from SAR 131.04 million a year earlier.

Accumulated losses stood at SAR 15.01 million by the end of the nine-month period, representing 19.63% of the company’s capital.