Saudi Fisheries has posted a loss of $6.4 million during the first half of the year as against the loss of $5.06 million in the same period of the last year.
The news of the poor financial results dragged down the company’s stock by 3.35 percent to SR37.55.
The company however reported a jump in sales during H1.
The jump in losses was a result of higher production costs at the shrimp farm, as well as longer harvest cycles and variable costs.
The firm reported a 34 percent surge in revenue during the same period to reach $7.73 million.
