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Halwani Bros. Co. announces its Interim Financial Results for the Period Ending on 2023-06-30 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 189.7 | 238.5 | -20.46 | 255.2 | -25.67 |
| Gross Profit (Loss) | 38.1 | 64.9 | -41.29 | 71.3 | -46.56 |
| Operational Profit (Loss) | -18.6 | 6.3 | - | 13.4 | - |
| Net Profit (Loss) after Zakat and Tax | -29.8 | -1.8 | 1,555.56 | 1.6 | - |
| Total Comprehensive Income | -30.2 | -6.7 | 350.75 | -25 | 20.8 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 444.9 | 540 | -17.61 |
| Gross Profit (Loss) | 109.4 | 160.7 | -31.92 |
| Operational Profit (Loss) | -5.2 | 37 | - |
| Net Profit (Loss) after Zakat and Tax | -28.1 | 17.9 | - |
| Total Comprehensive Income | 55.2 | -14.8 | - |
| Total Share Holders Equity (after Deducting Minority Equity) | 378.5 | 484.5 | -21.88 |
| Profit (Loss) per Share | -0.8 | 0.5 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The reason for the decrease in net profit during the current quarter compared to the same quarter of the previous year is due to: 1) The decrease in the company's sales in the Kingdom of Saudi Arabia. 2) Despite the increase in the subsidiary company's sales in local currency in the Arab Republic of Egypt, but due to decrease in exchange rate of the Egyptian Pound consolidated company's sales decreased in Saudi riyals. 3) The decrease in the gross profit of the company during the current quarter compared to the same quarter of the previous year as a result of the decrease in sales and the increase in the average prices of raw materials. 4) The company's consolidated profits were also affected by the impact of the decrease in the currency exchange rate in the subsidiary company in the Arab Republic of Egypt. 5) An increase in the financing cost, mainly due to the high interest rates set by the Saudi Central Bank. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | The reason for the decrease in net profit during the current quarter compared to the previous quarter is due to: 1) The decrease in the gross profit of the company during the current quarter compared to the previous quarter as a result of the decrease in sales resulting from the seasonality of demand. 2) Recording other revenues during the previous quarter resulting from the sale of unused assets. 3) An increase in the financing cost, mainly due to the high interest rates set by the Saudi Central Bank. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The reason for the decrease in the net profit during the current period compared to the same period of the previous year is due to: 1) The decrease in the company's sales in the Kingdom of Saudi Arabia. 2) Despite the increase in the subsidiary company's sales in Egyptian pounds in the Arab Republic of Egypt, the consolidated company's sales decreased in Saudi riyals as a result of the decrease in the exchange rate of the Egyptian pound. 3) The decrease in the gross profit of the company during the current period compared to the same period of the previous year as a result of the decrease in sales and the increase in the average prices of raw materials. 4) The company's consolidated profits were also affected by the impact of the decrease in the currency exchange rate in the subsidiary company in the Arab Republic of Egypt. 5) An increase in the financing cost, mainly due to the high interest rates set by the Saudi Central Bank. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to conform to the classification used for the period ended June 30, 2023. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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