Halwani Bros. Co. announces its Interim Financial Results for the Period Ending on 2022-03-31 ( Three Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	301.5	286.6	5.198	299.2	0.768
Gross Profit (Loss)	95.7	99	-3.333	86.9	10.126
Operational Profit (Loss)	30.7	34.6	-11.271	29.5	4.067
Net Profit (Loss) after Zakat and Tax	19.7	25.4	-22.44	18.6	5.913
Total Comprehensive Income	-8.1	25.4	-	18	-
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)	561.9	511.9	9.767
Profit (Loss) per Share	0.56	0.72
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The reason for the decrease in net profit during the current quarter compared to the same quarter of the previous year is due to:

1) The increase in the costs of raw materials prices within the global inflation, which had an impact on most companies during the current quarter compared to the same quarter of the previous year.

2) The company's consolidated profits were affected by the devaluation of the currency exchange rate in the subsidiary company in the Arab Republic of Egypt.

3) Increasing spending on marketing offers to customers and consumers during the current quarter compared to the same quarter of the previous year.

4) An increase in general and administrative expenses during the current quarter compared to the same quarter of the previous year.The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is The reason for the increase in net profit during the current quarter compared to the previous quarter is due to:

1) The growth in the company's sales during the current quarter compared to the previous quarter as a result of launching new products in the market in accordance with the company's general strategy.

2) Improving the sales mix by focusing on the most profitable products.Statement of the type of external auditor's report Unmodified conclusionReclassification of Comparison Items The figures in the interim financial statements have been grouped to conform with the accounting policies for the current year presentation as per International Financial Reporting Standard as endorsed in the Kingdom of Saudi Arabia. For more information, refer note 14- Comparative figures in the interim Financial Statements for the period ended 31-03-2022.Additional Information Earnings per share for the three months period ended 31/03/2021, 31/03/2022 have been calculated by dividing the net income for the period by 35,357,145 shares (including bonus shares) according to the Extra Ordinary General Assembly’s approval on the Capital increase by way of issuing bonus shares in its meeting dated 28-04-2021.

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