Raydan Food Company's financial statements showed a negative shift in the financial results in the past year compared to 2018.
According to the company’s results for the Saudi market (Tadawul), yesterday, Monday, last year’s losses amounted to 4.76 million riyals, compared to 2018’s profits of 14.72 million riyals.
>The company said in a statement to the stock exchange that the decline in annual results during the comparison periods is due to lower sales, higher cost of sales, increased marketing expenses and higher financing charges.
The company achieved sales last year of 230.48 million riyals, compared to 233.69 million riyals in 2018, a decrease of 1.4%.
