#Halawani_Al-Khair campaign spreads goodness in Saudi Arabia

Over 500,000 meals for iftar are being distributed all over the Kingdom
Updated 14 June 2018
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#Halawani_Al-Khair campaign spreads goodness in Saudi Arabia

Halawani Brothers, a leading food manufacturing company in the Kingdom, has launched the second edition of the #Halawani_Al-Khair campaign. The initiative is part of the company’s corporate social responsibility (CSR) and aims to promote volunteering and extend philanthropy, reflecting the company’s commitment toward Saudi citizens and residents.

This year, the #Halawani_Al-Khair initiative has added more development and philanthropy activities. Over 500,000 meals for iftar are being distributed all over the Kingdom. The campaign includes the “Employees Volunteering Program” in cooperation with the “Khadoom” program. 

“Iftar Al-Khair” at the King Abdul Aziz International Airport included the distribution of more than 800 Ramadan baskets, in addition to supporting about 10,000 families in cooperation with the Nama Charity and Development Association.

Saleh Ahmed Hefni, CEO and managing director of Halawani Bros, said the #Halawani_Al-Khair campaign has achieved many successes in its second year through initiatives targeting diverse segments of society.

He said the campaign has also achieved its objective of promoting the community and empowering individuals to be effective and productive members of society.

“Successes energize Halawani Bros. to develop the initiative and include several new activities and sectors, which has encouraged many associations and charities to become partners in these activities,” Hefni added.

The #Halawani_Al-Khair initiative in its first year achieved remarkable successes in volunteering and charitable work. This Ramadan, it is expected to reach wider segments of society with the gold sponsorship of the “Ramadan Aman 7” campaign in the Kingdom, which aims to reduce traffic accidents and excess speed.

Around 14,000 volunteers from different segments of society are involved in the distribution of light iftar meals to drivers before the Maghreb prayer at vital traffic junctions and crowded sites in Saudi Arabia, the UAE, Kuwait, Bahrain, Oman, Jordan and Bosnia. Over 360,000 meals will be distributed in 17 cities in the Kingdom.

The company’s executives, employees and their families are participating in the initiative with the objective of interacting with the community in spreading goodness and serving the people of the Kingdom.


GFH reveals boost in first-half profits

Updated 14 August 2018
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GFH reveals boost in first-half profits

GFH Financial Group has announced that net profit attributable to shareholders rose to $72.5 million in the first six months of 2018, a 16.7 percent increase from the same period a year earlier. The group also reported a consolidated net profit of $73.4 million in the first half of the year, a rise of 12.1 percent.

Net profit attributable to shareholders for the second quarter increased by 19.2 percent to $36 million. Consolidated net profit during the quarter rose to $36.5 million, an increase of 14.1 percent.

Earnings per share for first half of the year was 2.02 cents, compared with 2.51 cents in the first six months of 2017. Earnings per share for the second quarter was 1 cent, compared with 1.22 cents in the same period of 2017.

Total consolidated revenues in the first half, grew by 12.5 percent to $124.2 million, primarily from revenues generated by its investment-banking business. This included income generated from investment placements for private equity and real-estate transactions. Consolidated revenues for the second quarter stood at $63.7 million, an increase of 4.8 percent.

Profit before impairment allowance for the first half of the year was $79.1 million, an increase of 34.1 percent. Consolidated operating profit for the second quarter increased by 23.5 percent to $40.5 million. Total operating expenses for the first half fell to $45.1 million from $51.4 million. Operating expenses for the second quarter dropped to $23.2 million from $28 million a year earlier.

Equity attributable to shareholders was $1.11 billion for the first half, compared with $1.14 billion a year ago. The total assets of the group increased by 10.3 percent to $4.3 billion.

“We are pleased with the continued growth in profitably for the first half of 2018,” said GFH Chairman Jassim Alseddiqi. “Enhanced results and revenue generation for the period were supported by increased contributions from the group’s investment-banking business, where it continues to demonstrate a strong ability to identify and bring to the market unique investment opportunities.”

Hisham Alrayes, the group’s CEO, added “In line with the Group’s strategy, the ongoing growth in our investment-banking business continues to drive enhanced results and profitably. In particular, during the period, improvements in income generation came from a number of strategic deals, including our landmark investment in the UAE-based Entertainer, and a notable trophy real-estate asset in Chicago.”