Saudi Fisheries Co. reported a net loss of SAR 1.1 million for Q1 2025, narrowing from SAR 9 million in the same period a year earlier.
Item | Q1 2024 | Q1 2025 | Change |
---|---|---|---|
Revenues | 9.13 | 1.06 | (88.4 %) |
Gross Income | (2.79) | 0.49 | 117.6 % |
Operating Income | (8.98) | (5.91) | 34.2 % |
Net Income | (8.96) | (1.15) | 87.2 % |
Average Shares | 6.70 | 6.70 | - |
Earnings Per Share before unusual items (Riyal) | (1.34) | (0.91) | 32.1 % |
EPS (Riyal) | (1.34) | (0.17) | 87.2 % |
Item | Q4 2024 | Q1 2025 | Change |
---|---|---|---|
Revenues | 1.49 | 1.06 | (28.5 %) |
Gross Income | (0.33) | 0.49 | 249.5 % |
Operating Income | (1.56) | (5.91) | (278.2 %) |
Net Income | 7.47 | (1.15) | (115.4 %) |
Average Shares | 6.70 | 6.70 | - |
Earnings Per Share before unusual items (Riyal) | (0.66) | (0.91) | (38.5 %) |
EPS (Riyal) | 1.12 | (0.17) | (115.4 %) |
The smaller loss was attributed to lower operating expenses amid reduced business activity, including a 31% decline in selling, general, and administrative (SG&A) costs, as well as lower farm-related expenses tied to shrimp and fish production.
However, revenue dropped 88.4% year-on-year (YoY) following a temporary halt in wholesale operations and the end of production cycles during the quarter. The company’s net margin remained in negative territory, weighed down by idle farm costs, particularly depreciation charges.
On a sequential basis, Saudi Fisheries swung to a loss in Q1 2025, compared with a profit of SAR 7.47 million in Q4 2024.
Total shareholders’ equity, no minority interest, reached SAR 74.40 million as of March 31, 2025, compared to SAR 107.31 million in the prior-year period.
Accumulated losses stood at SAR 0.172 million as of March 31, 2025, representing 1.34% of capital.
Be the first to comment
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments Analysis: