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Raydan Food incurs lower accumulated losses

Raydan Food incurs lower accumulated losses
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1.03% 21.52 0.22

Riyadh - Mubasher: The accumulated losses of Raydan Food Company have declined to SAR 109.235 million as of 30 September 2021, accounting for 32.37% of the share capital worth SAR 337.5 million.

Lower accumulated losses are driven by higher share capital through right issuance by SAR 112.5 million as per the approval of the extraordinary general meeting (EGM), according to a bourse filing on Sunday.

It is noteworthy to mention that during the third quarter (Q3) of 2021, the company's net losses decreased by 54.4% to SAR 17.47 million from SAR 38.3 million in the year-ago period.