AnnouncementDetails

Actions

Halwani Bros. Co. announces its interim Financial results for the period ending on 2019-06-30 ( Six Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 200.2198.30.958238.4-16.023
Total Profit (Loss) 5153.4-4.49459.3-13.996
Profit (Loss) Operational 6.116-61.87516.6-63.253
Net Profit (Loss) after Zakat and Tax -3.78.5-5.5-
Total Comprehensive Income -0.57.8-7.8-
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 438.74145.966
Total Profit (Loss) 110.3114.9-4.003
Profit (Loss) Operational 22.741.1-44.768
Net Profit (Loss) after Zakat and Tax 1.825-92.8
Total Comprehensive Income 7.324.9-70.682
Total Share Holders Equity (after deducting minority equity) 460.6442.14.184
Profit (Loss) per Share 0.060.87
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year The Decrease in Profit for the current quarter as compared to the corresponding quarter of the previous year is due to:

1-Increase in the cost of goods sold in the company in Saudi Arabia due to the increase of raw material prices.

2-Increase in the sales and distribution expenses in Egypt due to the restructure in the sales department and launching new branches which resulted to the increasing in Sales.

3-Increase sales and distribution expenses in Saudi Arabia due to increased in the marketing activities and promotions to face the high compition in the local market and due to implement IFRS 16 from 1st of January 2019 which impacted increase in the depreciation in the current quarter

4-Increase in the other operating expenses in Egypt due to the implementation of the new governmental medical insurance.

5-Increase in the finance charges due to increase in the Material prices and the extra finance charges from the new long term loan from the SFB in the 1st quarter from the current year, addition to the finance charge from the IFRS 16

Reason for increase (decrease) in net profit for current quarter compared to the previous quarter The decrease in net Income for the current quarter compared to the previous quarter is due to:

1-Net Sales decrease in Saudi Arabia and Egypt because of the effect of the Holy Ramadan and Eid Holiday during second quarter of the current year.

2-Increase sales and distribution expenses in Egypt due to the restructure in the sales department and open new branches which impact increased in Sales

3-Increase sales and distribution expenses in Saudi Arabia due to increased in the marketing activities and promotions in addition to expenses reclassification from General Expenses to Sales and Distribution expenses.

Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year The Decrease in Profit for the current period as compared to the corresponding period of the previous year is due to:

1-Increase in the cost of good sold in the company in Saudi Arabia due to the increase in raw material prices.

2-Increase in the sales and distribution expenses in Egypt due to the restructure in the sales department and launching new branches which resulted in the increase of Sales

3-Increase in the sales and distribution expenses in Saudi Arabia due to the increase in the marketing activities and promotions to face the high competation in the local market and due to implemention of IFRS 16 from 1st of January 2019 which impacted increase in the depreciation in the current quarter

4-Increase in the other operating expenses in Egypt due to the implementation of the new governmental medical insurance.

5-Increase in the finance charges due to increase in the Material prices and the extra finance charges from the new long term loan from the SFB in the 1st quarter from the current year, addition to the finance charge from the IFRS 16

Type of the external auditor's opinion Unmodified opinion
Reclassifications in quarter financial result Certain figures of the previous year have been restated and regrouped to conform with the accounting policies for the current year presentation as per International Financial Reporting Standard as endorsed in the Kingdom of Saudi Arabia. For more information, refer note 2- Basis of preparation for the period ended 30-06-2018.
Additional Information The Company has adopted International Financial Reporting Standard No. 16, effective 1 January 2019. For further details, please refer to note 3 (Change in the Financial policies for the group) in the notes to the interim consolidated financial statements for the period ended 30 June 2019

The Capital Market Authority and the Saudi Stock 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.

Company Profile

Actions

Company Profile

Summary

Last Price Net Change
31.9 0.4 (+1.27%)
Value Traded (SAR) Volume Traded
243,666.6 7,634