Riyadh – Mubasher: Raydan Food Company issued a corrective statement today regarding its preliminary financial results for the first half (H1) of 2026.

The company revised its quarterly revenue to SAR 3.48 million, representing a decrease of 85.88% compared to the same quarter last year and an 82.16% decline from the previous quarter.

The company reported a quarterly net loss of SAR 16.22 million, which reflects an increase in losses of 51.08% year-on-year (YoY) and 165.39% compared to the previous quarter.

For H1-26, total revenue hit SAR 20.66 million, down 70% from the corresponding period in the previous year. The gross loss for the six-month period was corrected to SAR 5.31 million, a 51.44% decrease compared to the same period last year.

According to the disclosure, the adjustments were made to reclassify certain items in the statement of profit or loss to present discontinued operations independently from continuing operations. This alignment follows the requirements of International Financial Reporting Standard 5 (IFRS 5).

Raydan Food noted that while the classification of items changed, there was no impact on the total net results for the period. The correction also addressed a mathematical error in the results for the three-month period that ended on 30 June 2026.