TADCO says accumulated losses down to 15.1% of capital

Tabuk Agricultural Development Co. (TADCO) said that its accumulated losses fell to SAR 36.49 million as of March 31, 2020, representing 15.1% of capital.

The decline in losses was attributed to cutting the company’s capital, the company said in a bourse statement.

In March, TADCO shareholders approved a 46.3% capital cut to SAR 241.77 million from SAR 450 million to offset SAR 208.23 million accumulated losses, according to data compiled by Argaam.