Halwani Bros reported a net profit after Zakat and tax of SAR 51.6 million, an 8% decline from SAR 56.3 million in the year-ago period.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 557.54 | 555.20 | (0.4 %) |
| Gross Income | 194.74 | 187.26 | (3.8 %) |
| Operating Income | 80.62 | 69.19 | (14.2 %) |
| Net Income | 56.35 | 51.64 | (8.4 %) |
| Average Shares | 35.36 | 35.36 | - |
| EPS (Riyals) | 1.59 | 1.46 | (8.4 %) |
The company carried out exceptional marketing campaigns in the current period, according to its general strategy.
It also completed the organizational structure of the subsidiary company in Egypt and witnessed an increase in consultancy expenses.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 272.39 | 268.62 | (1.4 %) |
| Gross Income | 97.96 | 88.25 | (9.9 %) |
| Operating Income | 37.93 | 34.50 | (9.1 %) |
| Net Income | 25.93 | 26.24 | 1.2 % |
| Average Shares | 35.36 | 35.36 | - |
| EPS (Riyals) | 0.73 | 0.74 | 1.2 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 286.58 | 268.62 | (6.3 %) |
| Gross Income | 99.01 | 88.25 | (10.9 %) |
| Operating Income | 34.69 | 34.50 | (0.6 %) |
| Net Income | 25.40 | 26.24 | 3.3 % |
| Average Shares | 35.36 | 35.36 | - |
| EPS (Riyals) | 0.72 | 0.74 | 3.3 % |
In Q2 2021, the net profit after Zakat and tax edged up 1.2% year-on-year (YoY) to SAR 26.2 million, driven by launch of new products, and lower sales and marketing expenses, along with a decline in general and administrative expenses.
The company also maintained its sales volume YoY, despite different market conditions.
On a sequential basis, Q2 net profit rose 3.3% from SAR 25.4 million.
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