Raydan turns to losses of SAR 4.8 mln in FY 2019

27/04/2020 Argaam Exclusive

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Raydan Food Co. reported a net loss after Zakat and tax of SAR 4.8 million for the fiscal year 2019, compared to a net profit of SAR 14.7 million a year earlier.

The losses were attributed to decline in sales volumes, as well as increase in cost of sales, marketing expenses, and financing costs.

Financials (M)

Item	2018	2019	Change‬
Revenues	233.69	230.48	(1.4 %)
Gross Income	42.28	19.71	(53.4 %)
Operating Income	15.94	(4.66)	(129.2 %)
Net Income	14.71	(4.78)	(132.5 %)
Average Shares	13.92	13.92	-
EPS (Riyals)	1.06	(0.34)	(132.5 %)

In Q4 2019, the company widened its net loss after Zakat and tax to SAR 10 million, from SAR 3.3 million in the same period last year.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	56.56	51.32	(9.3 %)
Gross Income	7.35	(1.44)	(119.6 %)
Operating Income	1.03	(8.46)	(921.8 %)
Net Income	(3.33)	(10.14)	(204.7 %)
Average Shares	13.92	13.92	-
EPS (Riyals)	(0.24)	(0.73)	(204.7 %)

Item	Q3 2019	Q4 2019	Change‬
Revenues	61.31	51.32	(16.3 %)
Gross Income	7.42	(1.44)	(119.4 %)
Operating Income	1.05	(8.46)	(908.4 %)
Net Income	1.89	(10.14)	(636.9 %)
Average Shares	13.92	13.92	-
EPS (Riyals)	0.14	(0.73)	(636.9 %)

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