Herfy Food swings to losses in 9M-24; revenues down - Mubasher Info

HERFY FOODS
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Riyadh – Mubasher: Herfy Food Services Company shifted to net losses valued at SAR 56.61 million in the first nine months (9M) of 2024, compared to net profits worth SAR 2.76 million in 9M-23.

Revenues stood at SAR 868.81 million in 9M-24, down 0.86% year-on-year (YoY) from SAR 876.38 million, according to the interim financial statements.

The loss per share hit SAR 0.88 during January-September 2024, versus an earnings per share (EPS) of SAR 0.04 in 9M-23.

Financials for Q3-24

In the third quarter (Q3) of 2024, Herfy Food suffered SAR 33.36 million in net loss, against net profits valued at SAR 11.04 million a year earlier.

The company recorded 10.98% YoY lower revenues at SAR 278.65 million in Q3-24, versus SAR 313.04 million.

Quarterly, the Q3-24 net losses hiked by 40.80% from SAR 23.69 million in Q2-24, while the revenues declined by 7.46% from SAR 301.12 million.

Source: Mubasher Source: {{details.article.source}}