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Halwani Bros. Co. announces its Interim Financial results for the Period Ending on 2024-06-30 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 215.9 | 189.6 | 13.871 | 267.6 | -19.319 |
| Gross Profit (Loss) | 67.3 | 37 | 81.891 | 79.5 | -15.345 |
| Operational Profit (Loss) | 29.8 | -18.6 | - | 26.2 | 13.74 |
| Net profit (Loss) | 15.3 | -29.8 | - | -4.6 | - |
| Total Comprehensive Income | 14.8 | -30.2 | - | -63.3 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 483.4 | 442.3 | 9.292 |
| Gross Profit (Loss) | 146.8 | 105.1 | 39.676 |
| Operational Profit (Loss) | 56.1 | -5.2 | - |
| Net profit (Loss) | 10.8 | -28.1 | - |
| Total Comprehensive Income | -48.5 | -55.2 | -12.137 |
| Total Shareholders Equity (after Deducting Minority Equity) | 258.3 | 378.5 | -31.756 |
| Profit (Loss) per Share | 0.3 | -0.8 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | The increase in sales during the current quarter compared to the same quarter last year is due to: 1) Higher sales in the Kingdom of Saudi Arabia. 2) Change in sales policies in the Kingdom of Saudi Arabia. |
| 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 increase in net profit during the current quarter compared to the same quarter last year is due to: 1) Higher sales in the Kingdom of Saudi Arabia. 2) Change in sales policies in the Kingdom of Saudi Arabia. 3) Improvement in the sales mix by focusing on higher margin products. 4) Reduction in selling and distribution expenses. 5) Reduction in general and administrative expenses. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The decrease in sales during the current quarter compared to the previous quarter is attributed to: Seasonal Demand Fluctuation . |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The increase in net profit during the current quarter compared to the previous quarter is due to: 1) Reduction in selling and distribution expenses. 2) Reduction in general and administrative expenses. 3) Exchange rate impact as a result of Egyptian pound devaluation based on decision of Egypt Central bank. 4) Incurred taxes related to the transfer of a part of retained earnings amount from subsidiary to main company in Saudi Arabia. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The increase in sales during the current period compared to the same period last year is due to: 1) Higher sales in the Kingdom of Saudi Arabia and its subsidiary in the Arab Republic of Egypt. 2) Change in sales policies in the Kingdom of Saudi Arabia. |
| 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 increase in net profit during the current period compared to the same period last year is due to: 1) Higher sales in the Kingdom of Saudi Arabia and its subsidiary in the Arab Republic of Egypt. 2) Change in sales policies in the Kingdom of Saudi Arabia. 3) Reduction in selling and distribution expenses. 4) Reduction in general and administrative expenses. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | None |
| Reclassification of Comparison Items | The items, elements, and comparative explanations of the interim financial statements have been presented, compiled, and classified to comply with the applied accounting policies for the current period, which were prepared in accordance with the International Financial Reporting Standards (IFRS) adopted in the Kingdom of Saudi Arabia. For further information, please refer to Explanation No. 15 (comparative figures) in the interim financial statements for the period ended June 30, 2024. |
| Additional Information | - |
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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