Raydan Food Co. sustained net loss after Zakat and tax of SAR 53.8 million for the first nine months of 2020, versus net profit of SAR 5.4 million in year-earlier period, on lower sales revenue and higher operating expenses.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 179.16 | 97.00 | (45.9 %) |
| Gross Income | 21.15 | (5.50) | (126.0 %) |
| Operating Income | 3.80 | (20.72) | (645.7 %) |
| Net Income | 5.36 | (53.83) | (1103.6 %) |
| Average Shares | 13.92 | 13.92 | - |
| EPS (Riyals) | 0.39 | (3.87) | (1103.6 %) |
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 61.31 | 28.17 | (54.1 %) |
| Gross Income | 7.42 | (1.79) | (124.1 %) |
| Operating Income | 1.05 | (7.55) | (821.8 %) |
| Net Income | 1.89 | (38.33) | (2129.2 %) |
| Average Shares | 13.92 | 13.92 | - |
| EPS (Riyals) | 0.14 | (2.75) | (2129.2 %) |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 23.41 | 28.17 | 20.3 % |
| Gross Income | (3.96) | (1.79) | 54.8 % |
| Operating Income | (7.86) | (7.55) | 4.0 % |
| Net Income | (8.84) | (38.33) | (333.7 %) |
| Average Shares | 13.92 | 13.92 | - |
| EPS (Riyals) | (0.64) | (2.75) | (333.7 %) |
Raydan reported net loss after Zakat and tax of SAR 38.3 million in Q3 2020, versus net profit of SAR 1.89 million in year-earlier period, driven by lower sales revenue and higher cost of sales.
On a sequential basis, Raydan widened Q3 2020 net loss from SAR 8.8 million in Q2 2020.
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