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Halwani Brothers' Q2 Profit Rise
Halwani Brothers announced its financial results for the second quarter of 2026, recording a net profit of 11.47 million SAR, reflecting an increase of over 370% compared to the same quarter of the previous year. This growth is attributed to operational efficiency and lower financing costs. Despite a 0.88% decline in sales to 212.01 million SAR due to decreased export sales, the company maintained its market positions in both Saudi Arabia and Egypt. The results also showed an improvement in financing expenses, which decreased by 35%, along with a profit of 1.3 million SAR from foreign exchange differences. The rise in profitability is linked to enhanced operational efficiency and cost reductions. Although sales declined by 13.63% compared to the previous quarter due to seasonal factors, the company's strong performance in the first half of 2026 led to a 92.82% increase in profit, reaching 26.88 million SAR.
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