Raydan says coronavirus measures weighed on revenue, operations

Raydan Cuisines and Restaurants Co. said the Kingdom's precautionary measures to curb the coronavirus pandemic outbreak weighed directly on revenues, and that utilization rates are cut to the minimum, according to a bourse filing.

"These measures will likely impact operations and financial statements over the curfew period," the statement added.

It is difficult to determine the relevant financial impact at present, the statement said adding that the company is in talks with the competent authorities over its eligibility for the private sector support packages.

The related updates will be announced in due course, the statement.