Saudi Arabia's Halwani Bros posts 65% decline in profits as inflation bites

RIYADH: Saudi food manufacturer Halwani Bros Co. has reported a 65 percent drop in profit in the first half of the year, due to increased costs resulting from global inflation. The company’s net profit fell to SR18 million ($5 million) compared to SR52 million in the same period last year, according to a bourse filing. Halwani Bros attributed the lower profits to rising raw

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