Raydan Food Reports SAR 5.31M Net Loss in the Six Months 2026
RAYDAN 6012.SA | 0.00 |
On 2026-08-18 09:52:12 (Saudi Time), Raydan Food Company announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Explanation |
|---|---|
| Date of Publishing the Previous Announcement Sought to be Corrected on Saudi Exchange’s Website | 2026-08-11 Corresponding to 1448-02-28 |
| Hyperlink to the Previous Announcement | Click Here |
| Incorrect statements in the previous announcement |
The previous announcement stated the following figures for the current quarter: sales/revenues amounted to SAR 4,170.927, with a change rate of -83.088% compared to the corresponding quarter of the previous year, and a change rate of -78.635% compared to the previous quarter. Total profit (loss) amounted to SAR -5,452.580, with a change rate of -46.571% compared to the corresponding quarter of the previous year, and a change rate of 292.234% compared to the previous quarter. Operating profit (loss) amounted to SAR -12,288.906, with a change rate of -17.886% compared to the corresponding quarter of the previous year, and a change rate of 248.585% compared to the previous quarter. Net profit (loss) attributable to the issuer's shareholders amounted to SAR -16,120.648, with a change rate of 50.163% compared to the corresponding quarter of the previous year, and a change rate of 163.771% compared to the previous quarter. Total comprehensive income attributable to the issuer's shareholders amounted to SAR -16,120.648, with a change rate of 50.163% compared to the corresponding quarter of the previous year, and a change rate of 163.771% compared to the previous quarter.
The previous announcement also stated the following figures for the current period: sales/revenues amounted to SAR 23,693.314, with a change rate of -65.6% compared to the corresponding period of the previous year, and total profit (loss) amounted to SAR -6,842.711, with a change rate of -37.406% compared to the corresponding period of the previous year.
All numbers are in (thousands) Saudi riyals. |
| Correct Statement |
After the correction, the figures for the current quarter became as follows: sales/revenues amounted to SAR 3,483.621, with a change rate of -85.876% compared to the corresponding quarter of the previous year, and a change rate of -82.156% compared to the previous quarter. Total profit (loss) amounted to SAR -5,001.317, with a change rate of -50.994% compared to the corresponding quarter of the previous year, and a change rate of 259.773% compared to the previous quarter. Operating profit (loss) amounted to SAR -11,336.790, with a change rate of -24.248% compared to the corresponding quarter of the previous year, and a change rate of 221.578% compared to the previous quarter. Net profit (loss) attributable to the issuer's shareholders amounted to SAR -16,219.360, with a change rate of 51.083% compared to the corresponding quarter of the previous year, and a change rate of 165.387% compared to the previous quarter. Total comprehensive income attributable to the issuer's shareholders amounted to SAR -16,219.360, with a change rate of 51.083% compared to the corresponding quarter of the previous year, and a change rate of 165.387% compared to the previous quarter.
The figures for the current period after the correction also became as follows: sales/revenues amounted to SAR 20,660.235, with a change rate of -70.004% compared to the corresponding period of the previous year, and total profit (loss) amounted to SAR -5,308.888, with a change rate of -51.437% compared to the corresponding period of the previous year. -All numbers are in (thousands) Saudi riyals. |
| Additional Information | The previous announcement was amended as a result of reclassifying certain items in the statement of profit or loss, with the aim of presenting the results of discontinued operations separately from the results of continuing operations, in line with the requirements of International Financial Reporting Standard No. (5), "Non-current Assets Held for Sale and Discontinued Operations." The effect of this amendment is limited to the manner of presentation and classification of items in the financial statements, and does not result in any change to the total net results for the announced period, in addition to correcting an aggregation error in the results for the three-month period ended 30 June 2026. |
Year-on-Year Performance Drivers
Looking at the source data, this is a correction announcement that provides restated financial figures. I'll use the corrected figures for the analysis. For the current period (six months ended 30-06-2026), the corrected sales/revenues amounted to SAR 20,660.235 thousands = SAR 20.66 million, with a YoY change of -70.004%. The corrected total profit (loss) amounted to SAR -5,308.888 thousands = SAR -5.31 million, with a YoY change of -51.437%. For the current quarter, corrected net profit (loss) attributable to shareholders was SAR -16,219.360 thousands = SAR -16.22 million, a YoY change of +51.083% (i.e., loss widened by ~51%). Now I'll write the summary using the corrected figures and converted to millions. Sales/revenues for the six-month period ended 30 June 2026 declined sharply by 70.004% YoY to SAR 20.66 million (corrected from the previously stated SAR 23.69 million), driven by a significant contraction in quarterly revenues which fell 85.876% YoY to SAR 3.48 million in Q2 2026. The total loss for the period widened by 51.437% YoY to SAR -5.31 million, while the net loss attributable to shareholders for the quarter deepened by 51.083% YoY to SAR -16.22 million. The correction was necessitated by the reclassification of discontinued operations in accordance with IFRS 5, as well as the rectification of an aggregation error in the three-month period results, though these adjustments affected only presentation and classification without altering the total net results for the period.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97682&anCat=1&cs=6012&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.