Riyadh -  The accumulated losses of Raydan Food Company have reached SAR 162.21 million in the first quarter (Q1) of 2022, accounting for 48.06% of the SAR 337.50 million capital.

The Saudi listed firm incurred net losses after Zakat and tax of SAR 4.71 million in Q1-22, lower by 49.03% than SAR 9.24 million in Q1-21, according to recent bourse disclosures.

Meanwhile, the revenues surged by 13.58% to SAR 37.33 million in the January-March 2022 period, compared to SAR 32.87 million during the same period in the previous year.

The loss per share decreased to SAR 0.14 in Q1-22 from SAR 0.41 in Q1-21.

It is worth noting that Raydan Food registered lower accumulated losses worth SAR 109.23 million at the end of September 2021, accounting for 32.37% of its capital.

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