Halwani Bros. Co. announces its interim Financial results for the period ending on 2018-09-30 ( Nine Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 223.4 | 222 | 0.63 | 204.9 | 9.028 |
| Total Profit (Loss) | 72.3 | 67.7 | 6.794 | 60.1 | 20.299 |
| Profit (Loss) Operational | 29.7 | 28.8 | 3.124 | 16 | 85.625 |
| Net Profit (Loss) after Zakat and Tax | 19.2 | 18.8 | 2.127 | 8.5 | 125.882 |
| Total Comprehensive Income | 19.5 | 20.1 | -2.985 | 7.8 | 150 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 647.1 | 617.8 | 4.742 |
| Total Profit (Loss) | 196.8 | 196.8 | - |
| Profit (Loss) Operational | 70.8 | 79.5 | -10.943 |
| Net Profit (Loss) after Zakat and Tax | 44.2 | 51.3 | -13.84 |
| Total Comprehensive Income | 44.4 | 52.5 | -15.428 |
| Total Share Holders Equity (after deducting minority equity) | 461.6 | 511.7 | -9.79 |
| Profit (Loss) per Share | 1.55 | 1.8 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year | "The increase in net Income for the current quarter as compared to the corresponding quarter of the previous year is due to: 1-Increase in the net sales and gross profit in the company in Egypt due to the price increase for the products. 2-The compared quarter of the previous year include SR 1.7 million as a result of finalized of the final Zakat assessment with general authority of Zakat & Tax for the years 1998 to 2008 3-Increase the finance expenses in the current quarter with SR 1.4 million compared to the corresponding quarter of the previous year." |
| Reason for increase (decrease) in net profit for current quarter compared to the previous quarter | "The increase in net Income for the current quarter compared to the previous quarter is due to: 1.Increase in local sales in the current quarter because of the effect of the Holy Ramadan and Eid Holiday during second quarter of the current year. 2-Decrease in the sales and distribution expenses and general expenses in the current quarter compare to the previous quarter from the current year. 3-Increase in the net sales and gross profit in the company in Egypt due to the price increase for the products. |
| 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 increase in raw material prices. 2-Increase in the cost of good sold in the company in Egypt due to increase raw material prices and increase in Utilities prices 3-Increase in the Discounts in both Saudi Arabia and Egypt. 4- Last year net income include nonrecurring income amounted to SR 3.3 million. 5-Decrease in export sales because of the political and economic conditions in the region. 6-Increase sales and distribution expenses in Saudi Arabia due to increased promotional activities and new products." |
| 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 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 30-09-2018. |
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