Arab Finance: Al Ahly for Development and Investment’s (AFDI) consolidated net profits after tax and non-controlling interest soared 868.3% year on year (YoY) to EGP 22.292 million in the first nine months of 2023, compared to EGP 2.302 million, according to a filing on December 31^st.

Revenues came in at EGP 94.695 million in January-September period, up from EGP 54.137 million over the same period in 2022.

In terms of standalone business, the firm recorded a 324.2% YoY surge in net profits after tax to EGP 7.334 million, up from EGP 1.729 million in the first nine months of 2022.

Meanwhile, it garnered EGP 27.046 million in standalone revenues in the nine months to September 31^st, versus EGP 21.408 million over the corresponding period of last year.

Al Ahly for Development is an Egypt-based company engaged in the provision of investment services within the Egyptian and regional capital markets.

The company offers its services through six segments of non-banking operations, corporate finance, investment banking, research and analysis, capital markets, and asset management.

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