Halwani Bros. Co. announces its Annual financial results for the period ending on 2018-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 867.4 | 834.6 | 3.93 | ||
| Total Profit (Loss) | 257.2 | 271.5 | -5.267 | ||
| Profit (Loss) Operational | 83.9 | 109.6 | -23.448 | ||
| Net Profit (Loss) after Zakat and Tax | 43.3 | 71.3 | -39.27 | ||
| Total Comprehensive Income | 36.1 | 72 | -49.861 | ||
| Total Share Holders Equity (after deducting minority equity) | 453.3 | 529.8 | -14.439 | ||
| Profit (Loss) per Share | 1.52 | 2.5 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| Reason for increase (decrease) in net profit for current year compared to last 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 to maintain the market share 4-Decrease in export sales because of the political and economic conditions in the region. 5-Increase sales and distribution expenses in Saudi Arabia due to increased promotional activities and new products. 6-Increase in the finance charges due to increase in raw material prices and increase the discounts. 7-Although the decrease in profit for the current year compared to the corresponding period of the previous year but there is increase in the other operating income by 4.9 million SR coming from the re-evaluation of provisions and insurance compensation. |
| Type of the external auditor's opinion | Unmodified opinion |
| Reclassifications in annual 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 31-12-2018. |
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