Halwani Bros. Co. — Earnings Release 2013

Feb 19, 2014

Halwani Bros announces the annual financial results of the period ending on 31-12-2013

6001 · 19/02/2014 15:48:54 · Announcement #33327 · View on Saudi Exchange

Halwani Bros announces the annual financial results of the period ending on 31-12-2013

Element	Current year	Previous year	% Change
Net profit (loss)	92.5	87	6.32
Earning or loss per share, Riyals	3.24	3.05	-
Gross profit (loss)	286.7	277.7	3.24
Operational profit (loss)	131.6	120.6	9.12

*All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of annual financial results	Growth is due to sales growth where 2013 Turnover is SR 958M compared to SR 892M in 2012 that is equivalent to 7.4% growth as well as reduction in the Egyptian business unit finance charges
Reclassifications in annual financial results	Other Expenses is reclassified from being part of General Administrative Expenses to become a standalone Other Expenses element in 2012 Income Statement that resulted in increasing 2012 Operating Profit from SR 118.8M to SR 120.6M. Doubtful Debt provision is separated from Selling & Marketing Expenses with no impact on Operating Profit. Slow Moving Stock Provision is separated from f General Administrative Expenses with no impact on Operating Profit.

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