Halwani Bros net profit surges to SAR 100.8 mln in 2020

07/03/2021 Argaam Exclusive
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Halwani Bros Co. reported a net profit after Zakat and tax of SAR 100.8 million in 2020, compared to a net profit of SAR 2.4 million in a prior-year period



Financials (M)

Item 2019 2020 Change‬
Revenues 899.87 1,055.05 17.2 %
Gross Income 231.00 357.13 54.6 %
Operating Income 50.19 146.77 192.4 %
Net Income 2.36 100.84 4178.4 %
Average Shares 35.36 35.36 -
Earnings Per Share before unusual items (Riyals) 0.10 2.90 2803.8 %
EPS (Riyals) 0.07 2.85 4178.4 %

The profit rise was driven by revenue growth in local and international markets, the restructuring of the discounts and customer allowances policy to achieve the highest profitability and increase market share, and the restructuring of the product portfolio and sales mix in line with consumer demand and improved margin.

 

The annual financial results were also backed by higher gross profit margins, on better sourcing and supply chain efficiency and lower finance charges due to a decline in the loans balances and SAIBOR rates.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 239.98 241.30 0.6 %
Gross Income 63.89 75.93 18.8 %
Operating Income 18.42 26.62 44.5 %
Net Income 3.95 19.46 393.0 %
Average Shares 35.36 35.36 -
Earnings Per Share before unusual items (Riyals) 0.14 0.53 264.2 %
EPS (Riyals) 0.11 0.55 393.0 %

The fourth-quarter net profit after Zakat and tax surged to SAR 19.4 million, from a net profit of SAR 3.95 million in Q4 2019.

 

Shareholders’ equity, after minority rights, increased by 15.52% year-on-year (YoY) to SAR 533.6 million in 2020.

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Share Price

Halwani Bros. Co.
49.25
(0.70) (1.40 %)

Halwani Bros. Co. (HB)

1 Day (1.40 %) 5 Days (3.62 %) 3 Months (11.42 %) 6 Months (21.20 %) Year (11.90 %) 2 Years (9.96 %) 5 Years 74.03 % All 76.18 %
Created with Highstock 6.0.710:1010:3010:5011:1011:2011:5012:1012:3013:0013:2013:4013:5014:1014:3014:5015:1049.149.249.349.449.549.649.749.849.95050.1
Close : 49.25 | Mar 9, 15:15
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Financial Ratios
Current
Market Cap (M Riyal) 1,741.48
Enterprise Value (EV) (M) 1,953.46
Shares Outstanding ((M)) 35.36
EPS ( Riyal) (TTM) 1.26
Book Value (BV) ( Riyal) 8.19
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 48.31
P/E (TTM) 38.99
Price/book 6.01
Return on Average Assets (%) (TTM) 5.2
Return on Average Equity (%) (TTM) 7.2
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