Saudi food company Halwani Brothers Co posted a 68 percent rise in first-quarter net profits due to improving operational profits, kicking off the kingdom's earnings season.

Halwani made a net profit of 21 million riyals ($5.6 million) in the three months to March 31, compared to 12.5 million riyals in the same period last year, according to a bourse statement on Sunday.

"The reason behind the increase in net profits for the current quarter... is due to the improvement of the total and operational profits," the firm said.

Operational profit increased by 57.5 per cent to 24.1 million riyals in the quarter, the firm said.

Halwani is active manily in Saudi Arabia and Egypt. Its products include Middle Eastern sweets, processed meat, jams and dairy products. - Reuters