Arab Moltaqa Investments’ consolidated profit drops 75.8% YoY in H1

Updated 8/15/2023 9:07:00 AM
 Arab Moltaqa Investments’ consolidated profit drops 75.8% YoY in H1

Arab Finance: Arab Moltaqa Investments Co reported a 75.82% year-on-year decline in consolidated net profit after tax for the first half (H1) of 2023, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on August 15th.

Consolidated net profit hit EGP 24.903 million in H1 2023, compared to EGP 102.992 million in H1 2022.

Revenues rose to EGP 539.744 million in H1 2023, up from EGP 359.399 million in H1 2022.

Moreover, the company’s standalone net loss after tax stood at EGP 56.453 million in H1 2023, down from 68.374 million in H1 2022.

AMIC is an Egypt-based investment company that invests in a diversified range of economic sectors covering a broad spectrum, including industrial and agricultural investments, land reclamation and cultivation, livestock development, fisheries, real estate investments, pharmaceutical, healthcare, and tourism.