RIYADH: Saudi food manufacturer Halwani Bros Co. has experienced losses during the first nine months of 2022, due to increased costs resulting from global inflation. The company registered a net loss of SR5.1 million ($1.36 million) for the period ending Sep. 30, compared with SR66 million in profits in the prior-year period, according to a bourse filing. Following the
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
RIYADH: Saudi food manufacturer Halwani Bros Co. has reported a 22 percent profit drop in the first quarter as global inflation increased its cost burden. The company’s net profit fell from SR25.4 million ($6.8 million) to SR19.7 million year-on-year, according to a bourse filing. Halwani Bros attributed the lower profits to the rising costs of raw materials due to global
RIYADH: Saudi food manufacturer Halwani Bros Co. has reported a 16 percent decline in profit in 2021. The company’s net profit fell from SR101 million ($107 million) to SR84 million year-on-year, according to a bourse filing. The company's poor performance was attributed to the rising cost of raw materials due to global inflation caused by COVID-19. Founded in 1952, the