Halwani Bros. Co. — Earnings Release 2015

Oct 15, 2015

Halwani Bros. Co. announces the interim financial results for the period ending on 30-09-2015 (Nine Months)

6001 · 15/10/2015 15:50:40 · Announcement #39894 · View on Saudi Exchange

Halwani Bros. Co. announces the interim financial results for the period ending on 30-09-2015 (Nine Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	27.4	20.5	33.66	23.1	18.61
Gross profit (loss)	83.9	74.8	12.17	81.7	2.69
Operational profit (loss)	38.4	33.6	14.29	34.3	11.95
All figures are in (Millions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	76.4	67.2	13.69
Gross profit (loss)	251	236.4	6.18
Operational profit (loss)	111.5	103	8.25
Earning or loss per share, Riyals	2.67	2.35	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	Increase in net profit is derived from the decrease in cost of goods sold from reduction in cost of key raw materials in addition to gain from sales of fully depreciated and unused assets despite sales decrease in current quarter reaching Million 258 SR versus Million 261 SR in same quarter last year due to political conditions in the region which has a direct impact on Export market.
Reasons of increase (decrease) for period compared with same period last year	Increase in net profit is derived from the increase in sales compared to last year since it reached Million 813 SR versus Million 801 SR representing 1.5 % in addition to reduction in cost of key raw materials and the favorable impact of change in corporate tax rate for Egypt subsidiary which soften the impact of exchange rate differences from Egyptian pound devaluation versus US dollar
Reasons of increase (decrease) for quarter compared with previous quarter	Increase is derived from the decrease in cost of goods sold from reduction in cost of key raw materials in addition to gain from sales of fully depreciated and unused assets where net profit reached Million 27.4 SR in current quarter versus Million 23 SR in same quarter previous year representing 19% despite sales decrease in current quarter with value Million 258 SR compared to Million 267 in same quarter in previous year representing 3.4%, due to political conditions in the region which has a direct impact on Export market.

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