Halwani Bros. Co. announces the Estimated Financial results for the period ending on 31 -03 2019. (Three Months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 238.4 | 215.7 | 10.523 | 220.3 | 8.216 |
| Total Profit (Loss) | 59.3 | 61.4 | -3.42 | 60.4 | -1.821 |
| Profit (Loss) Operational | 16.6 | 25 | -33.599 | 13.1 | 26.717 |
| Net Profit (Loss) after Zakat and Tax | 5.5 | 16.5 | -66.666 | -0.9 | - |
| Total Comprehensive Income | 7.8 | 17 | -54.117 | -8.3 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after deducting minority equity) | 461.1 | 505.7 | -8.819 |
| Profit (Loss) per Share | 0.19 | 0.58 | |
| 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 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 the increase in raw material prices. 2- Increase sales and distribution expenses in Egypt due to the restructure in the sales departement and open new branchs which impact increased in Sales 3- Increase sales and distribution expenses in Saudi Arabia due to increased in the marketing activities and promotions 4- Increase in general and admin expenses due to the implementation of IFRS 16 from 1st of January 2019 which impacted the increase in the depreciation in the current quarter 5- Increase in the finance charges due to increase in the Material prices and the extra finance charges from the new long term loan from the SFB in the 1st quarter from the current year, addition to the finance charge from the IFRS 16 |
| Reason for increase (decrease) in net profit for current quarter compared to the previous quarter | The Increase in Profit for the current period as compared to the previous quarter is due to:
1- Increase sales in the company in Saudi Arabia and Egypt 2- Selling and distribution expenses in Saudi Arabia decreased as a result of the restructuring of customer contracts in the local and exportation markets 3- Decrease in the finance Charge in the quarter compared to the previous quarter as a result of allocate bank charges to the previous quarter with the increase in short-term loans in the previous quarter compared to the current quarter |
| Type of the external auditor's opinion | Unmodified opinion |
| External auditor's report containing reservation | These estimated financial results for the period ended 31 March 2019 are prepared by the management of the Company and these results are not reviewed by any external auditors. |
Comments