Al Ahly for Development’s consolidated profits skyrocket 1847% YoY in H1
Updated 9/12/2023 9:24:00 AM
Arab Finance: Al Ahly for Development and Investment’s (AFDI) consolidated net profits after tax and non-controlling interest soared 1846.8 % year on year (YoY) to EGP 15.989 million in the first half (H1) of 2023, compared to EGP 821,290, according to a filing on September 12th.
Revenues came in at EGP 63.457 million in H1 2023, up from EGP 38.356 million in H1 2022.
In terms of standalone business, the firm recorded a 46.1% YoY surge in net profits after tax to EGP 12.259 million, up from EGP 8.390 million in H1 2022.
Meanwhile, it garnered EGP 25.979 million in standalone revenues in the January-June period, versus EGP 21.137 million over the same 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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