Halwani Bros, producer of jams, deli meat and various food products, posted a net profit after zakat and tax of SAR 1.8 million for H1 2019, a plunge of 92.8 percent year-on-year (YoY).
|Gross Income||114.86||110.32||(4.0 %)|
|Operating Income||41.08||23.85||(42.0 %)|
|Net Income||24.99||1.82||(92.7 %)|
|EPS (Riyal)||0.80||0.06||(92.7 %)|
The first-half performance was hit by an increase in the cost of goods sold in Saudi Arabia, higher raw material prices, and sales and distribution expenses in Egypt and the Kingdom.
Halwani was also impacted by an increase in other operating expenses in Egypt and higher finance charges.
In Q2 2019, the company incurred net loss after zakat and tax of SAR 3.7 million against net profit of SAR 8.5 million a year earlier, also due to an increase in the cost of goods sold in Saudi Arabia, higher raw material prices, and sales and distribution expenses in Egypt and the Kingdom.
The company also swung to net losses in Q2, compared to a net profit of SAR 5.5 million in the previous quarter hurt by a decline in net sales across Saudi Arabia and Egypt, along with higher sales and distribution expenses.
|P/E Before Unusual Items (TTM)||HIGH|
|Market Cap. (M)||1,014.87|
|Return on Average Assets||2.01 %|
|Return on Average Equity||4.46 %|