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Halwani Bros. Co. announces the interim financial results for the period ending on 31-03-2018 (Three Months)

HB 6001 -1.25% 43.45 -0.55
Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) 16.5 20.4 -19.12 20 -17.5
Gross profit (loss) 64.4 71.1 -9.42 74.7 -13.79
Operational profit (loss) 25 30.5 -18.03 30.1 -16.94
Earning or loss per share, Riyals 0.58 0.71 - - -
All figures are in (Millions) Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year The decrease in net Income for the current quarter as compared to the corresponding quarter of the previous year is due to:
1-Increase in the cost of good sold in the company in Saudi Arabia due to increase in raw material prices.
2-Increase in the cost of good sold in the company in Egypt due to increase in the Egyptian pound Exchange rate which resulted increase in raw material prices.
3-Increase in the Discounts in both Saudi Arabia and Egypt
Reasons of increase (decrease) for quarter compared with previous quarter The decrease in net Income for the current quarter compared to the previous quarter is due to:
1-Increase in the cost of good sold in the company in Saudi Arabia due to increase in raw material prices.
2-Increase in the cost of good sold in the company in Egypt due to increase in the Egyptian pound Exchange rate which resulted increase in raw material prices.
3-Increase in the Discounts in both Saudi Arabia and Egypt
Reclassifications in quarterly financial results Certain figures of the previous year have been restated and regrouped to conform to the presentation for the current year presentation as per International Financial Reporting Standard 9 & 15 as endorsed in the Kingdom of Saudi Arabia. For more information, refer note 2-Important Financial policies for the period ended 31-03-2018.
Other notes 1. Net sales in current quarter reached 218.7 Million Riyal compared to 203.5 Million Riyal in same quarter of last year with increase of 7.5 % and compared to 216.8 Million riyal in the last quarter with increase of 1%


2. Shareholders Equity (no minority interest) as of 31/03/2018 reached 505.7 Million Riyal compared to 550.8 Million Riyal as of 31/03/2017 with a decrease of 8.2%

3. Comprehensive income belongs to company shareholders for current quarter reached 17 Million Riyal compared to 20.1 Million Riyal in same quarter in last year with decrease of 15.4 % versus 19.5 Million Riyal in previous quarter with a decrease of 12.8%

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