Raydan’s net profit tumbles 61% in Q1

21/05/2017 Argaam

Raydan Restaurants and Cuisines Co. reported a net profit of SAR 4.6 million for Q1 2017, a 61.4 percent year-on-year (YoY) plunge, due to lower sales volumes and seasonal factors.

 

Actual profit stood at SAR 6.6 million, due to SAR 2.06 million in subscription by shareholders, the company added in a statement to Tadawul on Sunday.

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