Saudi Fisheries reports zero accumulated losses

Logo of Saudi Fisheries Co. (SFICO)

Saudi Fisheries Co. (SFICO) announced that its accumulated losses decreased to 0% of its capital as of Jan. 26.

In a statement to Tadawul, the company attributed the zero accumulated losses to a capital reduction.

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According to data available on Argaam, the company's shareholders recently approved the board of directors' recommendation for an 83.25% capital cut from SAR 400 million to SAR 66.99 million, to write off the accumulated losses.

For the auditor’s report outlining the company’s financial position after the reduction in accumulated losses, please refer to the attached document.