Saudi Fisheries incurs SAR 8.10M loss in 9M 2026, SAR 3.89M in Q3

Saudi Fisheries Co. narrowed its net loss to SAR 8.10 million in 9M 2026, compared to SAR 18.48 million in the same period of 2025.

The company attributed the decrease in losses to the absence of selling and distribution expenses, compared to SAR 3.449 million in the year-earlier period, following the suspension of commercial operations, and a 12.2% decline in general and administrative expenses due to lower personnel costs.

Losses from discontinued operations fell to SAR 460,000 from SAR 6.663 million, while impairment losses on non-financial assets decreased to SAR 637,000 from SAR 2.629 million.

The company also reversed expected credit losses worth SAR 1.043 million and recognized gains of SAR 293,000 from investment property revaluation. Zakat expenses also declined to SAR 218,000 from SAR 1.042 million.

In Q3 2026, Saudi Fisheries narrowed its losses by 43.5% to SAR 3.89 million, compared to SAR 6.89 million in Q3 2025.

The company attributed the lower losses to the absence of selling and distribution expenses, compared to SAR 985,000 in the year-earlier period, and a decline in losses from discontinued operations to SAR 460,000 from SAR 2.244 million.

The company also reversed expected credit losses worth SAR 1.043 million, recognized gains of SAR 163,000 from investment property revaluation, and recorded lower zakat expenses of SAR 158,000, compared to SAR 930,000.

Sequentially, net loss widened compared to SAR 3.17 million in Q2 2026.

The company attributed these higher losses to the continued suspension of commercial operations, resulting in no sales in either quarter, and higher general and administrative expenses due to costs related to the proposed capital increase, which failed to secure the required majority at the extraordinary general meeting (EGM) held on Sept. 27, 2026.

The company also recognized losses from discontinued operations of SAR 460,000 in Q3 2026, compared to none in Q2 2026.

Total shareholders’ equity, with no minority interest, amounted to SAR 87.12 million as of Sept. 30, 2026, compared to SAR 102.01 million the same period a year earlier.