Saudi Fisheries says accumulated losses reach 26.7% of capital

Logo of Saudi Fisheries Co. (SFICO)

Saudi Fisheries Co.'s (SFICO) accumulated losses reached SAR 17.88 million as of Dec. 31, 2025, accounting for 26.7% of its SAR 66.99 million capital, the company said in a statement to Tadawul today, Feb. 24.

The primary reason for the losses was the fixed and idle farm costs incurred during the year.  Provisions stood at SAR 8.77 million, of which SAR 7.57 million is related to the impairment of non-financial assets and SAR 1.67 million for inventory provisions.

The company also recorded an increase in consulting expenses related to the capital restructuring initiative, a decline in wholesale activities, and the closure of a number of retail stores.  

SFICO stated that the regulations and guidelines for publicly listed companies in the Saudi capital market, whose accumulated losses have reached 20% or more of their capital, will be applied.

According to data available with Argaam, the company narrowed its losses to SAR 25.4 million in 2025 from SAR 41 million in 2024.