Halwani Bros. Co. announces its interim Financial results for the period ending on 2019-03-31 ( Three Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	238.4	215.7	10.523	220.3	8.216
Total Profit (Loss)	59.3	61.4	-3.42	60.4	-1.821
Profit (Loss) Operational	16.6	25	-33.599	13.1	26.717
Net Profit (Loss) after Zakat and Tax	5.5	16.5	-66.666	-0.9	-
Total Comprehensive Income	7.8	17	-54.117	-8.3	-
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Share Holders Equity (after deducting minority equity)	461.1	505.7	-8.819
Profit (Loss) per Share	0.19	0.58
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year	The Decrease in Profit for the current period as compared to the corresponding period of the previous year is due to:

1-Increase in the cost of good sold in the company in Saudi Arabia due to the increase in raw material prices.

2-Increase sales and distribution expenses in Egypt due to the restructure in the sales departement and open new branchs which impact increased in Sales

3-Increase sales and distribution expenses in Saudi Arabia due to increased in the marketing activities and promotions

4-Increase in general and admin expenses due to the implementation of IFRS 16 from 1st of January 2019 which impacted the increase in the depreciation in the current quarter

5-Increase in the finance charges due to increase in the Material prices and the extra finance charges from the new long term loan from the SFB in the 1st quarter from the current year, addition to the finance charge from the IFRS 16 Reason for increase (decrease) in net profit for current quarter compared to the previous quarter The Increase in Profit for the current period as compared to the previous quarter is due to:

1- Increase sales in the company in Saudi Arabia and Egypt

2- Selling and distribution expenses in Saudi Arabia decreased as a result of the restructuring of customer contracts in the local and exportation markets

3- Decrease in the finance Charge in the quarter compared to the previous quarter as a result of allocate bank charges to the previous quarter with the increase in short-term loans in the previous quarter compared to the current quarter Type of the external auditor's opinion Unmodified opinion Additional Information The Company has adopted International Financial Reporting Standard No. 16, effective 1 January 2019. For further details, please refer to note 3 (new standards, interpretations and amendments adopted by the Group) in the notes to the interim consolidated financial statements for the period ended 31 March 2019.

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