AI assistant
Halwani Bros. Co. — Earnings Release 2015
Feb 10, 2016
53462_rns_2016-02-10_1fa180dc-0617-4bd0-b056-1e53ebb5f925.html
Earnings Release
Open in viewerOpens in your device viewer
Halwani Bros. Co. announces the annual financial results for the period ending on 31-12-2015
6001 · 10/02/2016 08:31:51 · Announcement #41146 · View on Saudi Exchange
Halwani Bros. Co. announces the annual financial results for the period ending on 31-12-2015
| Element | Current year | Previous year | % Change |
|---|---|---|---|
| Net profit (loss) | 115.1 | 90.8 | 26.76 |
| Earning or loss per share, Riyals | 4.03 | 3.18 | - |
| Gross profit (loss) | 334.3 | 308.4 | 8.4 |
| Operational profit (loss) | 148.7 | 134.3 | 10.72 |
*All figures are in (Millions) Saudi Arabia, Riyals
| Element | EXPLAINATION |
|---|---|
| Reasons of annual financial results | Increase in net and gross profit is derived from the increase in sales compared to last year since it reached Billion 1.075 SR versus Billion 1.065 SR representing 1 % in addition to reduction in cost of key raw materials and the favorable impact of change in corporate Income tax rate for Egypt subsidiary which soften the impact of exchange rate differences from Egyptian pound devaluation versus US dollar, in addition to profit generated from Islamic Murabaha in Subsidiary company plus the income from insurances claim refund arise from Boiler breakage accident in 2014 while the inventory provision for spare parts has been increased to meet the disposal plan of old Machinery. Net profit at 151.1 Million Riyal is 27% higher than 2014 Net Profit which was 90.8 Million Riyal also, Operational Profit of 148.7 Million Riyal with an increase of 14.4 Million Riyal versus previous year representing 11% |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.