Raydan Food narrows 9M 2022 losses to SAR 21 mln; Q3 profit at SAR 911,000

09/11/2022 Argaam Exclusive

View other reports

Raydan Food Co. narrowed its net loss after Zakat and tax to SAR 21 million in the first nine months of 2022, from SAR 31 million in the prior-year period.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Revenues	95.91	124.04	29.3 %
Gross Income	(7.53)	10.37	237.6 %
Operating Income	(26.09)	(9.86)	62.2 %
Net Income	(30.96)	(21.00)	32.2 %
Average Shares	15.81	15.81	-
EPS (Riyals)	(1.96)	(1.33)	32.2 %

The company attributed the improved results to higher sales as well as lower general and administrative expenses, in addition to a decline in financing expenses.

The company turned to a net profit after Zakat and tax of SAR 911,000 for Q3 2022, against a loss of SAR 17.4 million in the same quarter last year, mainly due to higher sales.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Revenues	29.83	43.65	46.3 %
Gross Income	(4.90)	5.46	211.4 %
Operating Income	(14.29)	0.52	103.7 %
Net Income	(17.47)	0.91	105.2 %
Average Shares	15.81	15.81	-
EPS (Riyals)	(1.10)	0.06	105.2 %

Item	Q2 2022	Q3 2022	Change‬
Revenues	43.05	43.65	1.4 %
Gross Income	2.54	5.46	114.6 %
Operating Income	(6.61)	0.52	107.9 %
Net Income	(17.20)	0.91	105.3 %
Average Shares	15.81	15.81	-
EPS (Riyals)	(1.09)	0.06	105.3 %

On a sequential basis, the company tuned profitable from SAR 17.20 million losses.

Accumulated losses stood at SAR 178.503 million as of Sept. 30, 2022, representing 52.89% of the company’s capital.

Shareholders’ equity, after deducting minority interest, reached SAR 186.83 million as of Sept. 30, 2022, from SAR 256.18 million in the same period last year.

View More Financial Results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×