The annual financial statements of Raydan Food Company revealed that the company had shifted to a loss at the end of the first quarter of this year compared to the same period last year.

According to the results of the company for the Saudi market (Tadawul) today, the losses for the period amounted to 6.6 million riyals, compared to the profits for the first quarter of last year with a value of 752.76 thousand riyals. p>

The company said in a statement to the Stock Exchange that the decline in results during the comparison periods is due to lower sales (from the Corona pandemic reasons), and the high cost of sales, operating costs and financing costs. p>

The company achieved sales of 48.68 million riyals in the first quarter of this year, compared to 54.74 million riyals for the same period in 2019, a decrease of 11.1%.