Tabuk Agricultural Reports SAR 12.01M Net Loss in Three Months 2026
TADCO 6040.SA | 0.00 |
On 2026-05-12 15:39:49 (Saudi Time), Tabuk Agricultural Development Co. announced its Interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 593,488 | 13,109,104 | -95.472 | 2,530,438 | -76.546 |
| Gross Profit (Loss) | -6,454,564 | -99,455 | 6,389.934 | -26,220,885 | -75.383 |
| Operational Profit (Loss) | -11,832,669 | -8,402,596 | 40.821 | -46,786,941 | -74.709 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -12,005,986 | -7,102,197 | 69.046 | -46,694,106 | -74.288 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -11,802,689 | -7,057,659 | 67.232 | -44,270,138 | -73.339 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 74,967,993 | 172,427,531 | -56.522 |
| Profit (Loss) per Share | -0.31 | -0.18 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | -315,242,403 | 80.47 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales declined 95.47% YoY to SAR 0.59 million from SAR 13.11 million, primarily due to decreased production, restructuring of operating processes, and reduced inventory levels. Net loss widened 69.05% to SAR 12.01 million from SAR 7.10 million, driven by the revenue decline, inventory write-offs, and losses from the sale of shares in associates, despite reductions in selling, distribution, and administrative expenses.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 76.55% to SAR 0.59 million due to decreased production, operational restructuring, and inventory reduction. Net loss improved 74.29% to SAR 12.01 million primarily from lower cost of revenues, reduced selling and administrative expenses, absence of asset impairment losses, and decreased credit loss provisions, despite the revenue decline and losses from associate share sales.
Other Items
Auditors issued a qualified opinion citing insufficient evidence regarding the continued classification of Masader Agricultural Feed Company as discontinued operations, with total assets of SAR 18,020,308 and liabilities of SAR 21,599,416. Material uncertainty exists regarding going concern as accumulated losses reached SAR 315.24 million representing 80.47% of capital, current liabilities exceeded current assets creating a working capital deficit of SAR 164.89 million, and the company incurred negative operating cash flows of SAR 7.42 million. Total shareholders equity declined 56.52% to SAR 74,967,993, and loss per share increased to SAR -0.31 from SAR -0.18 in the prior year period.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95312&anCat=1&cs=6040&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.