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Halwani posts 9.8% growth in Q1 profit

Halwani posts 9.8% growth in Q1 profit
Photo Credit: Arabianeye-Reuters
HB
6001
-1.25% 43.45 -0.55

Riyadh-Mubasher: Halwani Bros recorded SAR 25.9 million in net earnings during the first quarter of 2015, growing 9.75% form SAR 23.6 million in Q1-14. The earnings also rose by the same percentage compared with SAR 23.6 million in the previous quarter.

The profit increase was driven by a 7.9% increase in sales to SAR 287 million in Q1 compared with SAR 266 million a year earlier, in addition to a decrease in raw material cost that resulted in gross profit growth, Halwani said.