Raidan Food Company recorded accumulated losses by 29.8% of the capital, with about 67.04 million riyals by the end of 2020.
According to Arab Net, the company said in a statement on Saudi trading, the reason for the accumulated losses returned to a net loss of the company's loss by the end of 2020.
The procedures and instructions for listed companies will be implemented in the market, which amounted to 20% and more than its capital.
The company's capital is SR 225 million, distributed at 22.5 million shares.
Redouem Food Company, has announced a 2020 financial results, achieved a significant increase in its losses by more than 17 times, at the end of last year to 83.34 million riyals, compared to SAR 4.76 million losses in 2019 by an increase of 1650% increase.
The company's revenues fell 42 percent to 133.895 million riyals, compared to SAR 230.48 million in 2019.
The net loss is due to lower sales and other income due to Corona's podium and high and indirect sales cost and high operational costs due to temporary and final locks of some branches.
