RIYADH: Tabuk Agricultural Development Co. has seen its losses widen by 10 percent to SR28 million ($7 million) during the first half of 2022.
The company’s net losses widened from SR25 million losses reported in the same period last year, according to a bourse filing.
This rise in losses was mainly caused by a lower rental income, higher selling and distribution expenses, along with an increase in general and administrative expenses.
The firm’s accumulated losses reached SR125 million at the end of the first six months of the year, representing 32 percent of its share capital.
