Halwani Bros Returns to Profit with SAR 11.5 Mln in Q1

Halwani Bros. Co. (HB) reported on Thursday a net profit of SAR 11.5 million for the first quarter of 2025, compared to a loss of SAR 4.58 million in the same quarter last year. This came after the announcement today of the preliminary financial results for the (three-month) period ending March 31, 2025.

Operational profit declined 6% in the first quarter to SAR 24.5 million from SAR 26 million in the first quarter last year.

Profits per share reached SAR 0.33 for the current period, compared to a loss of SAR 0.13 in the year-ago period.

The Company stated in a statement today that the reason for the decrease in sales during the current quarter, compared to the same quarter last year, is due to the impact of the Company’s consolidated sales (in SAR) on the currency exchange rate of its subsidiary in Egypt, despite the increase in the subsidiary’s sales in EGP.A