19 Hrs
Source:
الاقتصادية
Reshio Faces Half Losses Amid Transition to Direct Operations
Riceo, a company specializing in the coffee sector in Saudi Arabia, announced a loss of 1.5 million SAR during the first half of 2026, compared to a profit of 6.5 million SAR in the same period last year. The main reason for the losses was expansion in the number of branches and their transition from a franchise model to direct operation, which increased costs including materials, salaries, and rents. Additionally, a credit loss provision of 1.8 million SAR was recorded. Despite this, the semi-annual revenue increased by 8% to reach 28.2 million SAR, driven by branch network expansions and the conversion of some branches from franchising to company ownership, which boosted the company's income throughout the year. The company, founded in 2014 and headquartered in Al-Ahsa, owns a stake in the branch network with a market value of 65 million SAR.
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