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Raydan Food’s accumulated losses near SAR 179.5m in H1-22

Raydan Food’s accumulated losses near SAR 179.5m in H1-22
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RAYDAN
6012
3.06% 24.90 0.74

Riyadh - Mubasher: Raydan Food Company has registered accumulated losses worth SAR 179.41 million at the end of the first half (H1) of 2022, accounting for 53.16% of the SAR 337.50 capital.

During the January-June 2022 period, the Saudi listed firm incurred net losses after Zakat and tax of SAR 21.91 million, an annual hike of 62.39% from SAR 13.49 million.

The revenues enlarged by 21.65% year-on-year (YoY) to SAR 80.38 million in the first six months (6M) of 2022, compared to SAR 66.07 million.

Meanwhile, the loss per share stood at SAR 0.65 in H1-22, versus SAR 0.60 in the year-ago period.

In the first quarter (Q1) of 2022, Raydan Food suffered accumulated losses of SAR 162.21 million, representing 48.06% of its capital.