Financial Results : Raydan widens Q1 2021 loss to SAR 8.9 mln

Raydan widens Q1 2021 loss to SAR 8.9 mln

23/05/2021 Argaam Exclusive

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Raydan Food Co. widened its net loss after Zakat and tax to SAR 8.9 million for the first quarter of 2021, compared to SAR 6.7 million in the same period a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 48.68 32.87 (32.5 %)
Gross Income 0.08 (2.94) (3873.1 %)
Operating Income (5.81) (8.34) (43.4 %)
Net Income (6.66) (9.25) (39.0 %)
Average Shares 13.92 13.92 -
EPS (Riyals) (0.48) (0.66) (39.0 %)

The company attributed the rise in loss to lower sales and other revenues amid the COVID-19 pandemic outbreak, and an increase in the cost of sales, operational costs and selling and marketing expense.

On a sequential basis, the company narrowed its net loss after Zakat and tax in Q1 2021 on higher sales.

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