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