Riyadh – Mubasher: Raydan Food Company announced its interim financial results for the six-month period that ended on 30 June 2026, reporting a net loss of SAR 22.33 million, an annual jump of 21.43% from SAR 18.39 million.

The company’s revenue for the six-month period fell by 65.60% to SAR 23.69 million from SAR 68.88 million a year earlier.

The quarterly performance showed a net loss of SAR 16.12 million, up 50.16% from SAR 10.74 million in the corresponding quarter of 2025.

Raydan attributed the decline to a total drop in restaurant sales, the absence of catering service revenues, and the closure of eight branches during the second quarter (Q2) of 2026.

These closed branches accounted for 9.10% of total sales and 33% of operating losses during the first half of the year.

The company’s accumulated losses reached SAR 78.32 million, representing 107% of its capital. Total shareholders' equity stood at a deficit of SAR 5.18 million, compared to SAR 62.59 million in the previous year.

Auditors highlighted a material uncertainty regarding the company's ability to continue as a going concern, noting a working capital deficit of SAR 64.90 million. Loss per share for the period was SAR 3.05.

The company attributed the fiscal deterioration to a sharp decline in sales, the absence of Hajj pilgrimage contracts during the current year, and significant impairment charges on property and equipment.

Operations were further impacted by the closure of eight branches, including sites in Al Waziriyah, Al Sanabel, Al Haramain, and Al Madinah 2.