Financial Results : Halwani Bros makes SAR 11.5M profit in Q1 2025

Halwani Bros makes SAR 11.5M profit in Q1 2025

01/05/2025 Argaam Exclusive

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Halwani Bros Co. turned to a net profit of SAR 11.5 million for the first quarter of 2025, against a net loss of SAR 4.6 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 267.57 237.76 (11.1 %)
Gross Income 79.50 69.54 (12.5 %)
Operating Income 25.53 19.33 (24.3 %)
Net Income (4.58) 11.51 351.3 %
Average Shares 35.36 35.36 -
Earnings Per Share before unusual items (Riyal) 0.61 0.33 (46.6 %)
EPS (Riyal) (0.13) 0.33 351.3 %

The profit growth is mainly due to lower general, administrative, and selling and distribution expenses.

 

Additionally, there was an increase in other income resulting from the reversal of provisions no longer needed.

 

Meanwhile, profits in the same quarter of the previous year were negatively impacted by the depreciation of the Egyptian pound following the Central Bank of Egypt (CBE) decision to float the currency.

 

On a sequential basis, net profit declined 37.5% from SAR 18.4 million in Q4 2024, attributed to higher selling and distribution expenses due to the launch of marketing campaigns for new products.

 

Total shareholders’ equity, no minority interest, stood at SAR 301.48 million by the end if the current period, compared to SAR 243.54 million a year earlier.

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