Raydan achieves net profit of SR912 thousand during Q3

Raydan Food Company recorded a net profit after zakat and tax of SR912 thousand during the third quarter, compared to a loss of SR17.5 million in the same quarter of last year.
This came after the announcement on Wednesday of the preliminary financial results for the period ending on September 30, 2022 (9 months).
The operational profit amounted to SR1.2 million in the third quarter, compared to a loss of SR7 million in the same quarter of the previous year.
The net loss after zakat and tax in the 9-month period amounted to SR21 million, compared to a loss of SR31 million in the same period last year, down 32%.
The loss per share in the current period was SR0.62, compared to a loss of SR1.29 in the same period last year.
The reason for the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is:
– Increase in sales/decrease in general and administrative expenses/decrease in financing expenses / profits from excluding real estate, machinery and equipment
The reason for the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is:
– Increase in sales/ decrease in general and administrative expenses/ decrease in financing expenses/ profits from excluding real estate, machinery and equipment/ decrease in selling and marketing expenses.
The reason for the increase (decrease) in the net profit during the current period compared to the same period of the last year is:
– The increase in sales/decrease in financing expenses.
The comparative figures in the interim consolidated statement of profit or loss and comprehensive income for the three-month and nine-month period ending on September 30, 2021, have been reclassified to the comparative in the financial statements for the three- and nine-month period ending on September 30, 2022 (has no effect on operating profit or loss and has no effect on net profit/loss in the three-month period and has an impact on net profit/loss in the nine-month period, with the value of the company’s share of losses of the associate company, amounting to SR 472,042). Compared to the previously announced
– Sales during the current quarter amounted to SR 43,649,928, compared to SR 29,832,844 for the same quarter of the previous year, with an increase of SR 13,817,084, and a percent of 46.32%.
– Gross profit during the current quarter amounted to SR 5,459,187, compared to a total loss of- 4,899,937 SR for the same quarter of the previous year, with an increase of SR 10,359,124, and percent of 211.41%.
– The operational profit during the current quarter amounted to SR1,175,039, compared to an operating loss of- 7,330,810 SR for the same quarter of the previous year, with an increase of SR 8,505,849, and percent of 116.03%.
– The net profit after zakat and tax during the current quarter amounted to SR 911,858, compared to a net loss of SR -17,474,473 for the same quarter of the previous year, an increase of SR 18,386,331, and percent of 105.22%. And compared to a net loss of SR -17,196,696 for the previous quarter, an increase of SR 18,108,554, and percent of 105.30%.
– The gross profit from comprehensive income during the current quarter amounted to SR 912,140. Compared to a gross loss from other comprehensive income, -17,481,401 SR for the same quarter of the previous year, an increase of SR 18,393,541, and a percent of 105.22%. Compared to a gross loss of comprehensive income of SR -17,197,993 for the previous quarter, an increase of SR 18,110,133, and percent of 105.30%.
– Sales during the current period amounted to SR 124,036,176, compared to SR 95,910,213 for the same period last year, with an increase of SR 28,125,963, and percent of 29.33%.
– The gross profit for the current period amounted to SR 10,367,080, compared to a total loss of – SR 7,532,323 for the same period of the previous year, an increase of SR 17,899,403, and a percent of 237.63%.
– The operational loss during the current period amounted to SR 7,806,166, compared to an operating loss of- SR 17,777,972 for the same period of the previous year, with a decrease of SR 9,971,806, and a percent of 56.09%.
– The net loss after zakat and tax during the current period amounted to SR -20,998,530, compared to a net loss of SR – 30,966,680 for the same period of the previous year, a decrease of SR 9,968,150, and a percent of 32.19%.
– The gross total loss from comprehensive income during the current period amounted to SR -21,088,452, compared to a total loss from the comprehensive income of SR -30,967,032 for the same period of the previous year, with a decrease of 9,878,580 and a percent of 31.90%.
-The loss per share during the current period amounted to SR -0.62, compared to a loss per share of SR -1.29 for the same period of the previous year.
– The accumulated losses at the end of the current period amounted to SR-178,503,313, and a percent of 52.89% of the capital.
Gross shareholders’ equity (after excluding minority interests) during the current period (September 30, 2022) amounted to SR 186,828,877, compared to SR 256,184,843 for the same period of the previous year (September 30, 2021), a decrease of SR 69,355,966, and percent of -27.07%.
based on the meeting of the Extraordinary General Assembly of the company held on October 5, 2022, it was approved to reduce the company’s capital from SR 337,500,000 to become after the reduction the amount of SR 158,084,670 by amortizing the number of accumulated losses until June 30, 2022, which amounted to SR 179,415,330. That is 53.16% of the company’s capital