Halwani Brothers Company Announces 2013 Net Profit of 6.32%

14/01/2014 01:27 AST

The net profit of Halwani Brothers Company (HB) during the 4th Q 2013 amounted to SAR 22.5 million versus SAR 25.4 million for the same quarter of last year with a decrease of 11.42 %, compared to SAR 17.1 million for the previous quarter with an increase of 31.58 %.

Gross profit during the 4th Q of 2013 added up to SAR 67.1 million versus SAR 73.5 million for the same quarter of last year, a decrease of 8.71 percent.

Operating profit decreased 1.78 % to SAR 33.2 million during 4thQuarter of 2013 versus SAR 33.8 million for the same quarter of last year.

While, net profit during 2013 showed an increase of 6.32 percent to SAR 92.5 million versus SAR 87 million for the last year 2012.

EPS of Halwani Brothers Company during 2013 recorded as SAR 3.24 per share versus 3.05 SAR/Share for the same period last year 2012.

The total gross profit during 2013 is recorded as SAR 286.7 million versus SAR 276.2 million for the last year 2012, showing an increase of 3.8 %.

The total operating profit of Halwani Brothers Company during 2013 amounted to SAR 131.8 million versus SAR 120.7 million for the last year 2012, an increase of 9.2 %.

The decrease in current quarter net profit is due to the continuous increase of raw material prices.

The increase in yearly net profit is due to sales growth where 2013 Turnover is SR 958M compared to SR 892M in 2012 that is equivalent to 7.4% growth as well as reduction in the Egyptian business unit finance charges.

Gulfbase.com