NADEC says accumulated losses reach 2.96% of capital

Logo of National Agricultural Development Co. (NADEC) 

National Agricultural Development Co. (NADEC) said that its accumulated losses reached SAR 30.11 million as of Dec. 31, 2021, representing 2.96% of its SAR 1.016 million paid-up capital.

According to data compiled by Argaam, NADEC turned to a net loss after Zakat and tax of SAR 285 million in 2021, against a net profit after Zakat and tax of SAR 35.7 million a year earlier. Q4 2021 losses stood at SAR 277.3 million.