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MarketScreener Homepage  >  Equities  >  SAUDI ARABIA STOCK EXCHANGE  >  Halwani Brothers Company JSC    6001   SA1230A2TOH3

HALWANI BROTHERS COMPANY JSC

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Halwani Brothers JSC : Higher sales boost Halwani Bros profit in Q3

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11/09/2018 | 02:49am EDT

The Saudi food provider ascribed the nine-month profit decline to a rise in sales’ cost in the Kingdom

H B6001

-0.43% 45.80 -0.20

Riyadh – Mubasher: Saudi Arabia-based Halwani Bros Co on Wednesday reported a 2.1% year-on-year hike in net profits after calculating Zakat Tax during the third quarter of 2018, pushed by strong sales.

Halwani Bros’ net profits amounted to SAR 19.2 million ($5.12 million) in Q3-18, compared to SAR 18.8 million($5.01 million) during Q3-17, according to a statement to the Saudi Stock Exchange (Tadawul).

The firm attributed the third-quarter profit growth to a rise in the value of net sales and gross profits in Egypt’s subsidiary.

Revenues inched up 0.63% to SAR 223.4 million in Q3-18, compared to SAR 222 million during the year-ago period.

Operational profits also increased by 3.1% to SAR 29.7 million from July to September, versus SAR 28.8 million in the same three months last year.

Quarter-on-quarter, the Saudi firm’s profits soared 125.8% during the three-month period ended September, from SAR 8.5 million.

In the first nine months of 2018, Halwani Bros’ net profits after calculating Zakat and Tax slid 13.8% to SAR 44.2 million, from SAR 51.3 million in the year-ago period.

The Saudi food provider ascribed the nine-month profit decline to a rise in sales’ cost in the Kingdom, along with higher discounts in the Kingdom and Egypt, and distributing and sales expenses went up.

Sales rose 4.7% to SAR 647.1 million from January to September, against SAR 617.8 million in the corresponding period a year earlier.

Year-on-year, operational profits tumbled 10.9% to SAR 70.8 million by the end of September, compared to SAR 79.5 million.

Halwani Bros’ decreased 1.72% to close Tuesday's trading session at SAR 46.

Source: Mubasher

(c) All Rights Reserved - Mubasher Info 2005 - 2018 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (SAR)
Sales 2018 892 M
EBIT 2018 94,2 M
Net income 2018 66,1 M
Debt 2018 232 M
Yield 2018 4,70%
P/E ratio 2018 22,64
P/E ratio 2019 21,58
EV / Sales 2018 1,72x
EV / Sales 2019 1,58x
Capitalization 1 303 M
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 3
Average target price 41,7  SAR
Spread / Average Target -8,6%
EPS Revisions
Managers
NameTitle
Saleh Ahmed Ali Hefni Chief Executive Officer & Executive Director
Abdulrahman Ibrahim Al-Ruweite Chairman
Ayman Ahmed Sayed Chief Financial Officer
Samir I. Sadik Director-Information Technology
Laxman Singh Parmar Director-Research & Development
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