1. Halwani Bros achieved SR 18.1M net income in quarter one 2012 compared to SR 21.7M same quarter year ago with 16.5% decline. On the other hand, 2011 quarter one net income delivered 14.5% growth compared to 2010 quarter four that
was SR 15.8M
2. Gross profit achieved SR 66.5M in quarter one 2012 compared to SR 61.7M same quarter year ago 7.9 % growth
3. Operating profit achieved SR 26M in quarter one 2012 compared to SR 26.6M same quarter year ago with 2.3% decline
4. Earnings per share for the quarter one ended March 31st 2012 are SR 0.63 compared to SR 0.76 for the same period year ago
5. The main drivers for net income decline of quarter one 2012 compared to the same period last year are; higher marketing support activities in Egypt, increase in 2011 dividends distribution from Halwani Egypt to Halwani Saudi Arabia, that resulted in increasing the expenses of employees exceptional profit sharing, which did not take place in the same quarter last year, in addition the company maintained its consumer pricing in Saudi Arabia during the period.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.