The earnings of Saudi Herfy Food Services Company decreased by 47.7% to reach 25.1 million riyals in the first quarter of 2020, compared to 48 million riyals in the first quarter of 2019. p> According to Arabia Net, the company stated in a statement that the reason for the decrease in net profit during the first quarter of 2020 compared to the same quarter of 2019 is due to lower sales due to Decisions issued by the competent authorities within the precautionary measures and measures to limit the spread of the new Corona virus. These decisions included the closure of Herfy restaurants in commercial centers, the limitation of service in some restaurants to requests for home delivery, in addition to the high cost of sales and also an increase in selling and marketing expenses, and lower revenue Others, despite the decrease in financing expenses, and the decrease in general and administrative expenses.
