Halwani Bros. Co. — Interim / Quarterly Report 2012

Oct 14, 2012

HALWANI BROTHERS COMPANY ANNOUNCES ITS INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDED 30/09/2012 ( 9 MONTHS )

6001 · 14/10/2012 09:14:03 · Announcement #27261 · View on Saudi Exchange

HALWANI BROTHERS COMPANY ANNOUNCES ITS INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDED 30/09/2012 ( 9 MONTHS )

1.The business achieved net income in the third quarter 2012 of SR 20.7M compared to SR 19.6M same quarter previous year with 5.6% growth and compared to SR 22.8M in the second quarter 2012 with a (9.2)% decline

2.Gross profit achieved in the third quarter 2012 SR 67.8M compared to SR 60M same quarter previous year with 13 % growth

3.Operating profit achieved in the third quarter 2012 SR 30.4M compared to SR 27.8M same quarter previous year with 9.4% growth

4.The business achieved net income for the nine months ended 30/09/2012 of SR 61.6M compared to SR 64.7M same period previous year with (4.8) %decline

5.Earnings per share for the nine months ended 30/09/2012 reached SR2.15 compared to SR2.26 same period previous year.

6.Gross profit achieved for the nine months ended 30/9/2012 SR 202.7M compared to SR 188.1 M same period previous year with 7.8% growth

7.Operating profit achieved for the nine months ended 30/9/2012 SR 87.3M compared to SR 83.9M same period previous year with 4.1% growth

8.The main driver for net income growth in the third quarter 2012 compared to the same period previous year is sales growth that increased from SR 206.2M last year to SR 227.3M in 2012 achieving 10.2% growth rate and the main driver for net income decline compared to the second quarter 2012 is the increase in total cost of product sold while maintaining finished product selling prices in the Saudi market

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