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Beltone turns to consolidated loss in H1; Standalone loss deepens

Beltone turns to consolidated loss in H1; Standalone loss deepens

Arab FinanceBeltone Financial Holding’s (BTFH) consolidated financials showed a shift towards loss during the first half (H1) of 2022, according to financial statements filed to the Egyptian Exchange (EGX) on Wednesday.

The company reported a consolidated loss after tax of EGP 105.589 million in H1 2022, compared to a net profit of EGP 8.546 million the year before.

Total consolidated operating revenue surged to EGP 182.008 million in the six-month period ended June 30th from EGP 159.893 million in the same period a year earlier.

As for standalone financials, Beltone registered a net loss after tax of EGP 37.419 million in the January-June period, down from EGP 39.52 million in the comparative period the year before.

Beltone is an Egypt-based company, which operates within the diversified financial sector focusing on investment banking and brokerage.

The company develops an online trading platform, called Beltone Trade, as well as provides brokerage services, asset management, investment banking, liquidity services in regional markets, and research and analysis services.

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