Riyadh – Mubasher: The net losses of Herfy Food Services Company widened by 180.80% year-on-year (YoY) to SAR 23.24 million in the first half (H1) of 2024, compared to SAR 8.27 million.

The revenues amounted to SAR 590.16 million in H1-24, an annual growth of 4.76% from SAR 563.34 million, according to the financial results.

Loss per share enlarged to SAR 0.36 as of 30 June 2024 from SAR 0.13 in H1-23.

Financial Results for Q2-24

In the second quarter (Q2) of 2024, the company turned to net losses valued at SAR 23.69 million, against net profit amounting to SAR 4.53 million in Q2-23.

Revenues climbed by 4.47% YoY to SAR 301.12 million in Q2-24 from SAR 288.22 million.

Quarterly, Herfy Food also shifted to net losses in Q2-24 when compared to net profits of SAR 448,244 in Q1-24. Meanwhile, the revenues increased by 4.17% from SAR 289.04 million.