Raydan Restaurants and Cuisines Co.’s net profit after zakat and tax dropped 25.2 percent year-on-year (YoY) to SAR 18 million in the first nine months of 2018 on higher fixed operating costs, general and administrative (G&A) expenses.
| Item | 9m 2017 | 9m 2018 | Change |
|---|---|---|---|
| Revenues | 204.57 | 177.13 | (13.4 %) |
| Gross Income | 44.19 | 34.93 | (20.9 %) |
| Operating Income | 23.98 | 14.91 | (37.8 %) |
| Net Income | 23.03 | 18.04 | (21.7 %) |
| Average Shares | 13.92 | 13.92 | - |
| EPS (Riyals) | 1.65 | 1.30 | (21.7 %) |
The company’s Q3 net profit after zakat and tax fell 45.3 percent YoY to SAR 5.8 million also due to higher fixed operating costs and G&A.
When compared to the previous quarter, Q3 2018 net profit declined 17 percent hurt by lower sales.
| Item | Q3 2017 | Q3 2018 | Change |
|---|---|---|---|
| Revenues | 72.37 | 62.06 | (14.2 %) |
| Gross Income | 17.65 | 11.46 | (35.0 %) |
| Operating Income | 10.74 | 4.17 | (61.2 %) |
| Net Income | 10.59 | 5.84 | (44.9 %) |
| Average Shares | 13.92 | 13.92 | - |
| EPS (Riyals) | 0.76 | 0.42 | (44.9 %) |
| Period | Revenues | Change | Gross Income | Change | Net Income | Change | EPS(Riyal) |
|---|---|---|---|---|---|---|---|
| Q1 2018 | 54.67 | (12.9 %) | 10.19 | (23.1 %) | 5.16 | (24.9 %) | 0.37 |
| Q2 2018 | 60.40 | (13.1 %) | 13.29 | (1.1 %) | 7.04 | 7.3 % | 0.51 |
| Q3 2018 | 62.06 | (14.2 %) | 11.46 | (35.0 %) | 5.84 | (44.9 %) | 0.42 |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2018 | 20.76 % | 16.33 % | 10.39 % |
| Q2 2018 | 21.46 % | 17.15 % | 10.97 % |
| Q3 2018 | 19.77 % | 16.07 % | 9.43 % |
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2018 | 13.92 | 1.90 | 1.90 | 19.97 |
| Q2 2018 | 13.92 | 1.93 | 1.93 | 19.67 |
| Q3 2018 | 13.92 | 1.59 | 1.59 | 20.08 |
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2018 | 13.92 | 13.92 | 1.32 |
| Q2 2018 | 13.77 | 13.77 | 1.35 |
| Q3 2018 | 14.53 | 14.53 | 1.15 |
Q3 2018
| Period | National meals |
|---|---|
| Q1 2018 | 54.67 |
| Q2 2018 | 60.40 |
| Q3 2018 | 62.06 |
| Current | |
| Market Cap (M Riyal) | 452.96 |
| Enterprise Value (EV) (M) | 456.57 |
| Shares Outstanding ((M)) | 15.81 |
| EPS ( Riyal) (TTM) | (0.61) |
| Book Value (BV) ( Riyal) | 9.53 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | More than 50 |
| P/E (TTM) | NEG |
| Price/book | 3.01 |
| Return on Average Assets (%) (TTM) | (3.52 ) |
| Return on Average Equity (%) (TTM) | (5.83 ) |
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