Raydan Food Co. narrowed net losses after Zakat and tax to SAR 4.7 million in the first quarter of 2022, from SAR 9.2 million in the prior-year period, thanks to higher sales and other income.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 32.87 | 37.34 | 13.6 % |
| Gross Income | (2.94) | 2.36 | 180.3 % |
| Operating Income | (8.34) | (3.77) | 54.8 % |
| Net Income | (9.25) | (4.71) | 49.0 % |
| Average Shares | 13.92 | 15.81 | 13.6 % |
| EPS (Riyals) | (0.66) | (0.30) | 55.1 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 35.26 | 37.34 | 5.9 % |
| Gross Income | 1.33 | 2.36 | 78.3 % |
| Operating Income | 1.85 | (3.77) | (303.6 %) |
| Net Income | (11.25) | (4.71) | 58.1 % |
| Average Shares | 15.81 | 15.81 | - |
| EPS (Riyals) | (0.71) | (0.30) | 58.1 % |
The company narrowed net losses by 73% from SAR 17.47 million in the previous quarter, backed by a rise in sales, along with a decline in impairment losses of property, plant and equipment (PP&E). Raydan also cited a decrease in losses from the disposal of real estate, and PP&E.
Shareholders’ equity, after minority interest, jumped 14.7% to SAR 203.115 million by the end of Q1 2022 from SAR 177.001 million a year earlier.
Accumulated losses came in at SAR 16.22 million, accounting for 48.06% of the company’s capital as of March 31, 2022.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}