Riyadh – Mubasher: Halwani Bros Co on Sunday announced approving the resignation of its CEO Saleh Ahmed Al Hefni, to be effective in April 2019.
Al Hefni, who was the firm’s CEO, managing director, and chairman for its office in Egypt for 12 years, submitted the resignation on 22 December, the company said in a statement to the Saudi Stock Exchange (Tadawul).
Halwani Bros last reported a 2.1% year-on-year hike in net profits after calculating Zakat Tax during the third quarter of 2018, pushed by strong sales amounting to SAR SAR 19.2 million.
At the level of the first nine months, Halwani Bros’ net profits after calculating Zakat and Tax slid 13.8% to SAR 44.2 million, from SAR 51.3 million in the year-ago period.
By 12:14 pm Saudi time, the stock levelled down 0.54% to SAR 46.30.
